A Bullish Butterfly Harmonic pattern formed on the H1 chart shows price may soon bounce from the lows. Use tight stop loss as trade tensions and market volatility still play a bigger role
3RD Wave of the Elliot wave is in the process. Targets are pegged at 1287 for 3rd impulse wave and 1293 for 5th wave.
A Gartley formed on the 30M chart shows price potential rally to the 57 handle and then a correction retracement back to 53.
Gold is in the process of forming a symmetrical triangle after the rally. Wait for the completion of the fifth wave(E). A break of wave E to the top side above wave D will confirm an uptrend with resistance at 1280 and possibly rise again to 1307. Alternatively a move of wave E below the trend line will move price further down to 1242 area.
Bullish butterfly harmonic formed on H1. BUY: TP = 1.27023
Bearish Gartley formed on H1 chart. I suggest a SHORT option.
Bearish Gartley formed last week has still not reached the TP target of around 1.2644 area GBPUSD may continue the downtrend before any chances of reversal.