Two trades to watch: GBP/USD, Gold
Fiona Cincotta February 17, 2021 8:18 AM
GBP/USD struggles despite CPI surprising to the upside. Gold pressurised by reflation trade.
GBP/USD struggles despite inflation surprising to the upside
Gold pressurized by reflation tradeGold trades under pressure sub $1800, overwhelmed by the spike in treasury yields in the revival of the reflation trade.
Immediate resistance can be seen at $1785 the monthly low with further support seen at $1765 December’s low. A meaningful move beyond this level could see $1748 June 29th low.
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