Weekly Outlook 27/01/20 – 31/01/20
by Gold FXcc
XAUUSD – H4
– We expect XAUUSD to fall by reaching 1566.80 – 1560.18 this week, based on price action movement and Fib. Retracement on 1D TF.
GBPUSD – 1D
– GBPUSD recovered to 1.3174 last week but lost momentum since then.
– This week initial bias is neutral. On the upside price actions above 1.3174 will target to 1.3284 closes resistance.
– A break of 1.3284 will target a test on 1.3514 high. On the downside, below 1.3034 will bring retest of of 1.1958 .
– US30 Index just made highest High ever weekly close. This was a bullish sign. However last week’s candlestick was bearish on above-average volatility. – Further downside for short period expected as a price corrections!
– Further downside – Potential target to reach: 1.96300
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