XAUUSD outlook

In our previous analysis, we highlighted that there was bayside liquidity above 1833. Although we were expecting the price to drop and take out the sell-side liquidity, we did not trade Gold as the price was compressing into a pennant and we were waiting for a resolution.

We can now see that Gold is attempting to take out the bayside liquidity and can reach for 1833 and above if the price can break out of the larger descending channel.