Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
In late February this year, we published an article named, “FxWirePro: Euro is likely to decline 500 pips against pound”, available at http://www.econotimes.com/, where we recommended to our readers to go short in the euro against the pound at the then current rate of 0.852 with a target around 0.8 area.
Yesterday’s big jump in the pound after the British Prime Minister called for a general election in June has pushed our call, well in the money. The pair declined to as low as 0.83 and currently trading around 0.836 area.
We expect the selloffs to continue after a minor correction as we expect the pound to rise against the dollar. Yesterday’s big more has changed the outlook for the pound in the short to medium term, however, keeping in view the risk stemming from the upcoming French election, we are not extending our targets, though, some calculations are pointing that the pair might decline below our stipulated target around 0.8 area.
We recommend the stop loss around 0.862 for the above call.
