Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
On 15th of November, in an article named, “FxWirePro: Pound hovering at key resistance, go short-term positional short and intraday using FxWirePro GBP currency index” available at http://www.econotimes.com/, we recommended going short in the pound at then current rate of 1.254 in the short term, with a target of 1.2. Well, that 540 pips target has been reached by GBP/USD and we highly recommend booking profits and wait in the sideline for short term traders. Our long-term parity call holds.
Anybody looking to keep the trades active and try for more pips, at least aiming for the October bottom around 1.19, should remain cautious as all pound based pairs will be exposed to greater volatility as British Prime Minister Theresa May would give out her government’s negotiating stance in greater details, in a speech scheduled tomorrow.
For short term positions, traders are advised strongly to not hold on to this positions if the pound recovers beyond 1.23 area.
