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Gold Price Analysis: XAU/USD's upside capped by bearish 10-day SMA 1)Gold remains in bearish territory below the 10-day SMA. 2)A break below Wednesday's low could attract stronger selling pressure. Daily Chart :

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Currently the price is pulling back and it is very near the resistance level . Time to pay attention to it right?
We can see a strong downside move for XAUUSD here, breaking down the strong support level
yeap, An ascending channel has been formed just right below the resistance level, this serves as a confirmation for the bearish move
Sell this pair and take profits at the 188 fib level tue green line However if price breaks resistance wait for a pullback and buy
gold tested the 10-day SMA at $1,891 a few minutes ago and is now trading near $1,888 per ounce

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