Gold Price Analysis: XAUUSD to extend its rally towards $1,920/25 on break above $1,907 Gold XAUUSD BOE
“Attention now turns towards the Bank of England interest rate decision. Should the BoE surprise with a more hawkish stance, then the dollar correction would gather steam, aiding the recovery mode in Gold Price. The dollar bulls will jump back into the game if the BoE disappoints the hawks and triggers a fresh sell-off in GBP/USD. The renewed upside in Gold Price could come to a pause.”
“If sellers lurk at the 38.2% Fibo barrier, then Gold Price could see a quick pullback towards the $1,900 level. The next support will be at the 23.6% Fibo level of $1,885, below which the 100-DMA, now at $1,881, will be put to test. Tuesday’s high at $1,878 could challenge the bullish commitments should the retracement pick up steam.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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