Weekly Market Analysis: XAU/USD & GBP/NZD

Hello Traders,

let’s hit them charts:

1. XAU/USD

Last week Gold created a new high (3004.85) before we saw a pullback which led into a consolidation.

This week I will be waiting to see if there would be a reversal within the consolidation. If that happens, I wil wait for last week’s high to get broken before joining the buyers

If that doesn’t happen and price goes below the consolidation zone, then I wil wait for price to reach the previous resistance zone and see if we can get a reversal there to join buyers back to the consolidation zone

2. GBP/NZD

Last Friday we saw GBP/NZD price drop over 254 pips

Price is almost approaching a key support zone. I will be waiting to see how it reacts when it gets there. A reversal would mean me joining the buyers back to NPRZ

What say you?

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