Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Yesterday’s big move in the pound has changed its short to medium term outlook as the currency trades at the highest level since October against the dollar. After a small shock selloffs, the pound bulls cheered Prime Minister Theresa May’s call to a snap general election on June 8th of this year. The pound pushed as high as 1.29 against the dollar and it is currently trading at 1.282, well above key resistance area around 1.27 against the dollar. This has changed our previous short-term assessment that the pound would struggle to break the above-mentioned resistance.
We at FxWirePro now expect the pound to move higher against the dollar. The very next target is around 1.297, followed by 1.305 area. We expect the pound to reach 1.32 area as the next target and our final target for the pound is around 1.356 area against the dollar.
The recent weakness in the dollar on diminishing rate hike outlook would also provide support to the pair.
