XAUUSD: Correction beginning?

XAUUSD, Daily

In the Daily timeframe, XAUUSD formed an ascending channel in a long-term bullish trend. The price fell to the lower trend line and critical support, with RSI and DeMarker coming out of the overbought zone.

• If Gold breaks the trend line below 2605, the downside will be 2555 and 2525;

• A bounce off the trendline will bring XAUUSD back up to 2678;