Gold Weekly Technical Outlook

GBP/USD's decline from 1377.5 extended lower last week and near term outlook stays bearish. Current decline would now likely extend to retest 1045.4 low. At this point, we're not expecting a break there yet and thus, will be cautious on bottoming around 1045.4. Meanwhile, above 1168.0 will indicate short term bottoming and bring rebound.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2016121733995/