What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
GBP/USD: the pound strengthens
2019-11-11 • Updated
Recommendation:
BUY 1.274 SL 1.2685 TP1 1.2890 TP2 1.3065 TP3 1.3315
On the daily chart of GBP/USD, bulls try to push the pair back within the triangle's borders and implement the "Wolfe Waves" pattern. The first target of that pattern complies with the 1.3315 mark. To begin with, bulls need to stick above the resistance at 1.27.
On H1, if the combination of the "Three Indians" and "Spike and Ledge" patterns based on the 1-2-3 one is implemented, bulls will manage to reverse the downward trend. At first, they need to push the pair above the resistance at 1.274.
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