GOLD / USD - Descending channel - Fib retracement - S/R swap

Previous Support has turned into resistance at C.

1) Breakout, 2) Retest ..... 3) Continuation.

Price action has formed a descending channel... A,B,C

Retracement of downturn into the fibonacci sweet spot... C (Confluent with previous support)

All 3 confluences line up nicely. Watching price closely for signs of a sell!