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Gold remains above 4671 as bears struggle to break lower, James Stanley notes
James Stanley, Senior Strategist at DailyFX, analyzes ongoing movements in gold, highlighting that the 4671 level has acted as support for nearly a week since last Tuesday.
Stanley observes that although lower-highs have kept downside risk visible, bears have been unable to push gold below this Fibonacci level. He identifies 4600 as the next support and 4743 as a significant resistance for bullish momentum.
Stanley has previously highlighted a pivotal week for the U.S. dollar, citing resistance during Powell's speech and key jobs data releases. He has also focused on British pound price action setups, noting support tests in GBPUSD and GBPJPY. These earlier observations reflect his continued attention to support and resistance levels across major markets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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