Under Pressure
Our Pivot: 1853.50
Our Preference: Start short selling XAUUSD below 1844.50 with strict stop loss of 1853.50 and profit target at 1835.00 with extension towards 1830.
Alternate Scenario: Upward penetration of 1853.50 will call for 1857 and 1861.
NOTE: XAUUSD is being inside a bearish price channel.
Chart with supports & resistances:
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