Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
In the previous call article, named, “FxWirePro: Excellent 1:8 risk-reward opportunity in GBP/USD shorts”, we recommended going short in the pound for a big risk-reward, with the stop loss around 1.255 and target around 1.15. But that call has been stopped out today as the new wave of optimism hits pound.
The pound is finding has been finding fresh bids since yesterday as the Supreme Court of the United Kingdom ruled that the government would need parliamentary approval to trigger Article 50 of the Lisbon Treaty. The ruling is unlike to make any major changes to the negotiating outlook or the timeline since the court also ruled that the regional parliament need not be consulted.
We think that with a major resistance taken out, the pound has a lot to gain against the dollar. The protectionist speech delivered by the New President of the United States Donald Trump has somewhat spooked the dollar bulls. We suspect the pound to gain as high as 1.32 against the dollar.
