XAUUSD is breaking out below 1780
XAUUSD is breaking below the strong downside resistance 1780. This breakout can lead to a deeper downside retracement to 1750. A bounce here is required for the upside reversal which will then be confirmed only upon a break above 1800. XAUUSD is still in the narrow triangle swing range between 1750 and 1800 and a confirmed break of these levels is required for a clear direction.
Note: look for the short trade entries with the stop loss just above 1783
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