Is gold predictable now, at all? Let's consider some facts and observations.
GBP: back to 1985
Information is not investment advice
Performance in 2020: -10%
Last day range: 1.2002 – 1.2271
52-week range: 1.1845 – 1.3350
Currently, the GBP trades in the area of 1.1860 against the US dollar. The monthly chart below shows its historical performance. The resistance is located at 1.2655, which may seem too stretched even for a daily chart, but under the conditions the UK is now it is quite reasonable: GBP/USD was there not more than a week ago.
A diligent trader will reproach the author for not zooming out the chart enough to show what the support of 1.1700 is based on. Unfortunately, MetaTrader 4 doesn’t allow zooming out enough to capture 35 years of GBP/USD performance and show where the pound was in 1985.
Right. A 35-years low. Soviet Union was still there when the pound was this low. Why? Because of the coronavirus, Brexit, global assets dumped, the GBP dumped for the USD, bad weather, you name it. Therefore, there is quite no certainty on the next move by the GBP. But as usual: be amazed by what the market does, but don’t step away from your trading fundamentals. As bottomless a plunge as it seems, there will be a sure correction upwards – be there to catch it.
Gold has been losing value lately. But recently, it is back up. Is it a good time to buy?
S&P falling this much, this stock falling that much... Not all the stocks are like this! Some of them keep standing and defying the virus damage.
Time to collect our knowledge about OPEC and prepare for its meeting.
The British pound is struggling, and there are a lot of reasons for that. What's the outlook?
GBP/JPY has formed a higher low, retraced 50% of the February-March decline, closed above 134.40 on Wednesday and is trading above the March high.