Gold is approaching support, potential for a bounce
Price is approaching our first support at 1885.54, in line with our 50% Fibonacci retracement and 161.8% Fibonacci extension. We could see a potential bounce and further rise up to our first resistance at 1900.31. It is worth noting that the price is still holding above the Ichimoku cloud in line with our bullish bias.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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