Gold 8H/1D Sell Set up

Gold has been in moving in a downward channel in the higher time frame and there is a potential sell set up lining up for the coming week or two.

Our reasons for potential further downside move for XAU/USD are as follows:-

- Key monthly resistance level
- Pinbar on the 8H and 1D time frames
- Visible down trend
- Rejection from 50% Fib Retracement