$GBPUSD Update

GBPUSD 4-HOUR CHART - Price action went as expected since previous update, currently trading above 1.6100/1.6080 (current support area). I expect Cable to make higher highs toward 1.6300 and then maybe another fall to test 1.6000 support.

$XAUUSD Update

Gold bounce from 61.8% level at 1642 as expected but failed to reach my second target at 1700. The precious metal fell sharply and breach previous low before settling back above 1642. Outlook remain bullish above 1633/42.

XAUUSD DAILY CHART - Possible double bottom formation.

$XAUUSD Testing 61.8% Retracement Level

XAUUSD DAILY CHART - Gold found some support near 61.8% retracement level at 1642, which could be the bottom of a possible ABC correction pattern. I am looking to buy the pair targeting 1671 and 1700 with stop loss below this month low.

$USDCHF Chart Update

$USDCHF 4 Hour Chart - Correction reached 50% retracement level. Reversal of this 2 week downtrend should test last week high (0.9511).