Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
GBP/USD: bears to test the nearest support
There's a local 'V-Top' pattern, so the market is likely going to test the nearest support at 1.3203 - 1.3177. If a pullback from this area happens little later on, there'll be a moment for another bullish rally.
We've got a bullish 'Thorn' pattern, so it's time for an upward correction. Meanwhile, if a pullback from the closest resistance at 1.3253 - 1.3272 forms next, bears will probably try to achieve the next support at 1.3203 - 1.3177.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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