Gold has been in an uptrend on the h1 time-frame, H4 time-frame also providing further information that Gold is bullish. Furthermore, Gold is at a supporting area and on the trend line it has created a wedge formation that has been broken out of and retested indicating that bullish momentum is present. Anticipating a bullish move towards 1790/1800 zone =/-.
On higher time frame (D1) GBPUSD is in a downtrend. Based on the overall downtrend on the higher time frame, when moving to smaller time frames such as H4 &H1, I noticed that the market is at an area of resistance with the possibility of Head & Shoulders reversal pattern forming. Ideally, I would wait for the formation to complete and would look to place sell...
Market is currently at a key support area on the Daily time frame and has formed an uptrend on lower time frames, h4 & h1, after it has broke out of a long term down trend. Targets around 1780 +/-.
