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26.02.202114:58 Forex Analysis & Reviews: Analysis of Gold for February 26,.2021 - First downside target at the price of $1.765. Potetnial for second dowwnside target at $1.722

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BOE's Haldane: There is risk of central bank complacency allowing the inflation cat out of the bag

High degree of two-sided uncertainty on inflation is understandable

We might see higher and more sustained rise in UK inflation than expected
We may potentially overshoot target for a more sustained period
If economies bounce on vaccine, policy could overstimulate the economy
In turn, also overstimulate inflation pressures
But also reasonable to expect disinflationary trends to persist
Costs to the economy and BOE getting these judgments wrong could be significant

Damned if you do, damned if you don't. That's pretty much Haldane's take here. But at least he is opening the door to the possibility of the BOE looking towards a quicker development in the inflation backdrop.

Further Development

Analyzing the current trading chart of Gold, I found that Gold tested our first downside target at $1,765 but there is still strong downside pressure and potential for testing of my second target.

Key Levels:

Resistance: $1,765

Support levels: $1,7

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