FX.co ★ XAU/USD, GOLD

In principle, regarding GOLD, nothing has changed in terms of the ongoing upward movement, when looking at the bigger picture. Today, new highs were also reached, but we couldn't manage to stay above 4858. As a result, we saw a decent drop, even going below 4800, where support was found around 4785. However, we are struggling to hold above that level, and everything looks like a false breakout. Nevertheless, I don't see any clear immediate targets from either side. Personally, I will be looking at that false breakout at 4785, so if we drop back to around 4790, I will consider buying there.