Zak Mir, Technical analyst at Share Prophets, discusses the technical outlook for stocks, Gold prices and EUR/GBP.
Gold bears fool the bulls
Mir explains how previous attempts higher in Gold prices was a way to trap the bulls. The precious metal has seen false upside breakouts and has failed to move higher. Mir further remains bearish on Gold, expecting a downside move towards $960/ounce.
EUR/GBP: Bearish below 0.70
Mir sees bearish potential in EUR/GBP, favouring a slide towards 0.65 while the cross trades below 0.70.