Gold Remains Inside Symmetrical Triangle: What’s Next?

<p>Good day!</p>
<p>British pound has currently reached the supporting level of 1.2247. This asset might jump anytime soon although it could also break the lower boundary of the range and drop just to target the level of around 1.2000:<br />
<img class="alignnone size-large wp-image-43464" src="http://blog.tickmill.com/wp-content/uploads/2020/05/1-14-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/1-14-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/1-14-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/1-14-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/05/1-14.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Gold seems to stay still inside the daily symmetrical triangle, closing the daily candles above the psychological level of 1700.00. We feel that the asset should break the upper side of this triangle, yet it could also drop so let’s wait and see what happens next:</p>
<p><img class="alignnone size-large wp-image-43470" src="http://blog.tickmill.com/wp-content/uploads/2020/05/2-11-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/2-11-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/2-11-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/2-11-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/05/2-11.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>The currency pair USD/CAD remains in the range, forming two horizontal levels. It might target the horizontal level of 1.4265, 50% Fibonacci and the downtrend area between the points 1.6193 and 1.4690 from monthly timeframe. Away from this downtrend the currency pair can potentially head South:</p>
<p><img class="alignnone size-large wp-image-43466" src="http://blog.tickmill.com/wp-content/uploads/2020/05/3-7-1024×475.png" alt="" width="1024" height="475" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/3-7-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/3-7-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/3-7-768×357.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/05/3-7.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Let us remind you that this material is provided for informative purposes only and cannot be considered as a direct go ahead to implement transactions in the financial markets. Trading in the financial markets is very risky.</p>
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