Under Pressure
Our Pivot: 1948
Our Preference: Short sell XAUUSD as long as its trading below 1940 with strict stop loss of 1948 and target at 1930 and 1924 with extension towards 1912.
Alternate Scenario: Upward breakout of 1948 will call for 1955 and 1961.
NOTE: XAUUSD is moving downward after completing its correction of last bearish rally to expand that correction.
Chart with Supports and Resistances:
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