FX.co ★ Market Review: Gold Drop, Pound Rise & Bitcoin Outlook

In today’s market review for February 17th, we analyze the quiet session ahead of tomorrow's volatility (NZD Rate, UK Inflation, FOMC). We discuss the completed 3-wave structure in Gold following the inflation news and identify the next zones of interest.

We review the successful buy signal for GBP/USD from a channel breakout, targeting the 1.3731 level and potentially new highs. We also discuss EUR/USD scenarios (waiting for a test of the February 5th long breakdown), the bearish setup for USD/JPY aiming for 152.00, and Bitcoin consolidating with buying interest around $67,000–$68,000.

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