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EURGBP TECHS

Bearish Threat Still Present

GBPUSD TECHS

Testing Resistance

EURUSD TECHS

Breaches The 20-Day EMA

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Firmer Within The Bull Channel

GOLD TECHS
  • RES 4: $1877.2 - High Nov 16 and key resistance
  • RES 3: $1871.0 - High Nov 18
  • RES 2: $1849.1 - High Nov 22
  • RES 1: $1848.1 - 76.4% retracement of the Nov 16 - Dec 15 downleg
  • PRICE: $1839.8 @ 07:18 GMT Jan 20
  • SUP 1: $1805.9 - Low Jan 18
  • SUP 2: $1789.9/82.8 - Channel base from Aug 9 low / Low Jan 7
  • SUP 3: $1753.7 - Low Dec 15 and a key support
  • SUP 4: $1746.0 - Low Oct 6

Gold short-term conditions remain bullish and the yellow metal traded sharply higher yesterday. This has resulted in a break of resistance at $1831.9, Jan 3 high and a bull trigger. The break reinforces bullish conditions following the recent recovery from the base of its bull channel drawn from the Aug 9, 2021 low. Attention is on $1848.0 next, a Fibonacci retracement. Firm short-term support has been defined at $1805.9.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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