Gold price provided positive trading yesterday, to test the pivotal resistance 1797.00, and maintains its cohesion below it until now, accompanied by the appearance of clear overbought through the stochastic indicator, waiting to resume the bearish bias and head towards 1770.00 that represents our next main target.
Thus, the bearish …
The pound sterling against the dollar tested the pivotal resistance 1.3460 and kept its stability below it, accompanied by the appearance of negative signals through the stochastic indicator, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 1.3400 then 1.3310 as main …
Bulls tested the historical resistance level of 1.7095. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trade idea:
Sell when the price is firmly below 1.7019 (the price of the last impulse candlestick opening).
Stop-loss – 1.7095.
Target levels: 1.6840; 1.6654.
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