XAUUSD (1218.88): Gold prices were seen drifting lower after the breakout below the rising trend line and the 20-period EMA. Price action could extend the declines down to the previously held lows with the potential to test the lower support at 1207.00. A retest of this support level could potentially mark an end to the downside in price action. However, if the support fails, we anticipate further declines below this level.
