FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
So why have I drawn this channel?

Higher timeframe. On the weekly, this is a fakeout.

Coupled with the Double Top you can clearly see, there's still more downside pressure.

However, you can see as usual, the 61.8% held as support. 4hr break below here and we revisit 1800.

As always, keep an eye on stimulus talks.

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