Major support- $1286 (20- day MA)
Gold has shown a channel break down after a long consolidation. The yellow metal was trading in narrow range after hitting high of $1298.60. It has declined more than $15 and hits intraday low of $1278.
The yellow metal has closed slightly below 20 day MA and this confirms minor weakness a dip till $1264/$1252 (300-day EMA).
On the higher side, gold is facing strong psychological resistance of $1300 and any break above targets $1320.
It is good to sell on rallies around $1280-81 with SL around $1287 for the TP of $1264.


FxWirePro: GBP/AUD eases on Geopolitical whipsaw
FxWirePro: EUR/AUD loses upside momentum but outlook is bullish
GBPJPY Coil Tightens: Is a Bullish Break Above 215.60 Imminent?
Geopolitical Easing Fuels AUDJPY Rally Toward 115 — Buy Dips at 113
FxWirePro: GBP/USD range-bound as Iran uncertainty keeps traders cautious
FxWirePro- Woodies pivot (Major)
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/JPY gains above 160 level ahead of BOJ policy meeting
Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling
FxWirePro: AUD/ USD strongly bearish despite upside attempts
FxWirePro: USD/ CNY falls towards 6.750, bears keep the advantage
FxWirePro: USD/CAD steadies around 1.3990 ,retains bid one
FxWirePro: NZD/USD jumps after US and Iran agree preliminary deal
FxWirePro: USD/ZAR edges higher, set to stay on back foot
Sell the Bounce: NZDJPY Bearish Bias Persists Below 94.20, Eyes 90.50 



