FX.co ★ Analysis of Gold for February 22,.2021 - Bear flag pattern in creation and potential for the downside movement towards $1.762

There will be more details announced by UK prime minister, Boris Johnson, later but this fits with what has been reported earlier here.

Schools will also reopen on 8 March and there will be a four-stage easing of lockdown measures, which is estimated to stretch over the course of five weeks.

Further Development

Analyzing the current trading chart of Gold, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from earlier this morning.

Key resistance is set at the price of $1,800