XAUUSD facing bearish pressure below 1879.20
Price is facing bearish pressure from our first resistance, in line with our 100% fibonacci extension, 23.6% fibonacci retracement and horizontal pullback resistance where we could see a further drop below this level. Ichiomku cloud and 20 period EMA are showing signs of bearish pressure as well.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results