Since cable found support at a new yearly low around 1.4565 its been rallying up without a normal correction. Since we finally found resistance around 1.5813, cable is finally recovering from that onesided upmove and is approaching a key buyzone... This is the zone where buyers need to reload to keep the bullish ...
The pound broke the keylevel 7041last week and closed above it. Looking to hit the next key level at 7331, which is the 50% of the 2008-2009 selloff. For the next couple of days, its all about retracement down to find new buyers to push the pound to 1.73.
Gold is at a prior 2013 bottom and again below 1200. If price stays belows 1200 it can move lower into 1180-1150 which is a potential buyzone (based on a support zone from 2010)
Targets are 1250 - 1300 - 1350 (200DMA).
This thesis is invalid if we get daily closes below 1100. This would open the possibility for 1000