Ole Hansen
The US dollar is not the only catalyst in gold’s movement, explains Saxo Bank head of commodity strategy Ole Hansen.
Squawk / 18 June 2016 at 9:51 GMT
Senior Analyst /
Saint Vincent and the Grenadines
Weekly Trading Forecasts on Major Pairs (June 20 - 24, 2016)

Dominant bias: Bearish
This week, there would not be any unprecedented movements on GBP pairs (just like Grexit caused no special movements in the markets), save strong movements that are not more than anything that has been witnessed so far this year. Surprise movements do not usually happen when they are anticipated. What usually cause extremely serious movements in the markets are events that happen unexpectedly. Likely effects of Brexit have been anticipated, as well as likely effects of Bremain. Therefore, they would not cause any movements stronger than what we have seen on GBP pairs this year. Throughout Thursday, June 23, GBPUSD (and most other GBP pairs) will go in one direction with little or no reversal, but there would be nothing graver than normal. The outlook on the pair is bearish and further southward movement could possibly be witnessed this week.



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