#Gold #XAUUSD Update
Price action has broken below origin of wave ((ii)) of 3 which invalidates this count. A suitable count is a five-wave advance from 2,656.62 labeled Minor wave 1. Wave 2 correction underway which is expected to terminate between 2,721.97 and 2,706.67; the 0.5 and 0.618 Fib. retracement levels respectively.

For this outlook, my stop at 2,689.38 will taken out so am lowering it to 2,656.62; its initial position. A break above 2,785.98 would be initial evidence wave 3 is underway.