Major market forecast: Gold, GBP/USD & FTSE 100 – Brenda Kelly
Oct 31, 2016, 01:18 PM
Brenda Kelly, an Independent Market Strategist, joined Tip TV’s Zak Mir in today’s Finance Show, to offer the technical outlook for Gold, GBP/USD and the UK equity index FTSE 100.
Highlights:
Gold: Bearish on Gold, charts show that the precious metal failed at the 200-DMA hurdle. XAU/USD can be seen trapped in a bearish triangle formation, and a move towards 1250-1220 looks likely in the near-term.
GBP/USD: Another drop below 1.20 would be the last time cable falls so low.
FTSE 100: Positive bias on the index
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