GOLD: up to $1,600?
Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?
GBP/CHF has one way
Information is not investment advice
There are many ways to bet on the decline in the British pound. One of them is to sell GBP/CHF. The pair ran into the resistance of the descending 50-month MA (1.3350). In addition, it tested levels above 200-week MA at 1.3257 but then returned below it.
On D1, the pound is currently enjoying the support of the 50-day MA and 23.6% Fibo retracement of the 2019 advance just above 1.3160. If this support is lost, there will be scope for a deeper decline to the 1.3010 area (38.2% Fibo, 100-day MA). In addition, a “Head and Shoulders” pattern on H4 confirms that the market has topped.
Elizabeth Belugina
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GOLD: up to $1,600?
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