Watching XAUUSD at 2300 - A Critical Juncture?
Been closely monitoring XAUUSD action over the last few sessions, and that 2300 psychological level is really coming into focus. We've seen a fair amount of back-and-forth around it, suggesting a battle between buyers and sellers. On the daily chart, it looks like a potential double bottom might be forming if we can get a sustained close above it, which would certainly pique my interest for a longer-term rebound.
However, the risk I'm keeping in mind here is a decisive break and close below 2280. If that happens, it would invalidate the pattern I'm seeing and could open the door for a retest of the lower 2250s, or even further downside. It's not out of the question given the recent consolidation, and the broader macro picture still has a lot of moving parts. Just an observation, as always, not advice, but certainly something to watch.