Main trading ideas on financial markets for 23.10.2018

GOLD

The gold price continues moving in a short range for 8 days after huge rising above $1200 level at 11th of October. It looks like bulls took a break at $1220 level before next increasing above $1230.

The consolidation is going in the positive zone above bearish trendline. While the Cayman is in neutral zone and moving from 70% of buyers level, there might be a start of a bullish rally, if Gold price breaks $1230 resistance level. So, if it happens, we will buy Gold up to $1250-$1260 levels

GBPUSD

The British Pound continues falling against most of the major currencies, while UK government still has no progress in the Brexit deal with European Union. As they said, that the deal was completed for 95%. However, the main question about borders in Northern Ireland is not solved still.

Meanwhile, the British Pound is under pressure today. The GBPJPY pair is close to critical support level at 145.71 after losing 147 level yesterday. In this case, we recommend selling GBPJPY from 145.60 after breaking 145.71 support level with Take Profit at 144.40 level.

Our targets for,
GOLD – is buying after breaking resistance level
GBPJPY – is selling from 145.60 level