Hello Traders,
Let’s hit the charts.
1. XAU/USD (GOLD)
Gold has finally hit the 1st resistance level (1288.12), and when it was about to breakout, we saw a huge bearish candlestick presently intimidating the bulls.
Our analysis given on Sunday just played out on gold.
If the 2 pm candlestick closes this way, we may most likely see the bulls hit a familiar support level (1268.17) this week.
2. GBP/JPY
GBP/JPY on the daily chart may be getting ready for a bearish deep.
But, before we get ahead of ourselves. I want to draw your attention to the conservative support band.
GBP/JPY may not be out of the woods yet. We may still have to wait for price to close below the 142.968 support level before selling.
Wishing everyone a great day ahead.
