GC Daily Analysis
Daily: The price has broken out of the downward channel. A more meaningful retest of the channel structure and support is needed to confirm the bullish bias. The price has shown some rejection after tested the resistance at 1.731. A break above 1.731 would target 1.7375 & subsequently 1.75. On the downside, a break below support at 1.725 would push the price towards 1.718 & 1.7125.
4H: A downward breakout of Ascending Triangle on 1.731 has cause the price to fall towards support at 1.725 and possibly 1.718. More confirmation is needed to see how price react to the 1.725 level. If it hold it will possibly rebound to the upside at 1.7375. A break below would bring the price downward to test the support at 1.718.
1H: No clear signal. Wait for more confirmation. Interpret the price action on the support.
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