XAUUSD consolidating around 2320-2330, watching for a break
Been watching $XAUUSD for a bit now, and it really feels like we're in a consolidation phase, specifically between 2320 and 2330. It's been range-bound for a good few days after that last pop. To me, a clean break and sustained move above 2335 would suggest a retest of 2360-2370 is on the cards. Conversely, if it loses 2315 convincingly, especially on a daily close, then the risk is a drop towards the 2300 psychological level, maybe even 2280. For now, it's just chopping around, not giving much of a clear directional signal. Patience is key here; not forcing anything until we get a proper move out of this current range.
Definitely seeing that consolidation too. I'm wondering if the upcoming inflation data might be the catalyst we're all waiting for to break this range, one way or another.