IDEA FOR XAUUSD / GOLD
https://www.tradingview.com/chart/8zkc9xZA/?symbol=FX%3AGBPUSD
On the 1-hour chart (H1), XAUUSD is moving within a bullish falling wedge pattern that is set against the backdrop of an ascending channel. The price is currently challenging the upper boundary of the wedge and the resistance level at 2420.
- On the upside: Should the price break above the 2422 resistance, the subsequent target is anticipated to be at 2450;
- On the downside: Conversely, if a downward correction takes place, the price might break through the 2408 support, potentially aiming for the 2397 and 2378 levels.
On the 1-hour chart (H1), XAUUSD is moving within a bullish falling wedge pattern that is set against the backdrop of an ascending channel. The price is currently challenging the upper boundary of the wedge and the resistance level at 2420.
- On the upside: Should the price break above the 2422 resistance, the subsequent target is anticipated to be at 2450;
- On the downside: Conversely, if a downward correction takes place, the price might break through the 2408 support, potentially aiming for the 2397 and 2378 levels.
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