XAUUSD | Possible Rejection

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Price is being rejected of the Horizontal Resistance and the Higher boundary of the Descending Channel. We can initiate a short position if the rejection will be confirmed. Stop-loss can be placed above the Horizontal Resistance

In case price loses the Horizontal Support we can also initiate a short position

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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.