Where are the targets of correction as market sell-off widens?
The S&P500 is trading at 3800, which is close to the 50-day average. A consolidation well below this line, like a year ago, would increase the volatility and widen the sell-off. The next target of the correction then could then be 3500, near where the 200-day average passes.
A breakdown of GBPUSD under 1.3850 would soon open the way to 1.3600. The most pessimistic scenario now appears to be a pullback of GBPUSD to 1.3100.
For gold, the next significant level is $1700, a failure under which would be a complete surrender of the bulls that pushed the price up for two years through to August 2020.
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