Is it time to worry? In last week's video I mentioned how silver, platinum and copper held up their trendline support, offering comforting signs for gold. But this week, copper broke its 14-month trendline support. See what I said about silver's role in the video. Focus on that 21.95. Here's the video again
GBP knocked off by another downside surprise in UK CPI (issued earlier this morning), 24 hrs before the Bank of England rate decision. The chart below highlights the plunge in odds of a 25-bp hike for tomorrow's meeting. The bottom chart shows GBPUSD, but the real action was in EURGBP. The WhatsApp snapshots further below, highlight Tuesday's reminder to our Broadcast Group to remain long EURGBP ahead of the BoE meeting. Watch that EURGBP wegde.