Sasha Singh
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Gold : More Losses to Come

(XAUUSD : 4 Hour Chart)

On the 4 hour chart of Gold it seems like the metal is still within a downward consolidation range experiencing support from 1241.97 and resistance from the falling resistance trend line. This gives a bearish outlook on the pair and according to this the pair should continue to decline by breaking the support. Also the 50 day SMA is moving apart from 100 day and 200 SMA giving a bearish bias on the pair.

(XAUUSD : Daily Chart)

The pair should find the next support at 1232.53 if it continues to decline as seen on the Daily chart.