Under Pressure
Our Pivot: 1855.50
Our Preference: Start short selling XAUUSD below 1847.40 with strict stop loss of 1855.50 and profit target at 1838.00 with extension towards 1836.00 and 1832.
Alternate Scenario: Upward penetration of 1855.50 will call for 1859 and 1861.
NOTE: XAUUSD is trying to gave bearish breakout of its triangle.
Chart with supports & resistances:
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