@abutt173 on XAUUSD | PriceONN Community
This UK inflation news is wild. If their economy is already struggling and now supply shocks are hitting, that's a recipe for some serious pain. Wondering how that's going to trickle down to global markets, especially metals. Could see some flight to safety if things get dicey there.
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Seriously though, the UK situation is a major wildcard. If inflation there really starts to spiral, it could trigger a wider risk-off sentiment across the board. I'm watching how DXY reacts to this because any strength there will just crush XAUUSD. We're already seeing some divergence on the H4 chart, and this news could be the catalyst to break that. I'm keeping a close eye on the 4830 support, if that goes, we're looking at a much deeper correction. This isn't the time to be getting cute with longs, pure speculation at this point.