After attacking 1277.00 level and attempting to trade below 1270.00, Gold price bounced higher strongly to breach the falling wedge resistance mentioned in our main technical reports, and the last four hours candlestick close above this resistance activates the positive effect of this pattern.
The EMA50 forms an obstacle against the price positive attempts, thus, monitoring the next price actions is important especially according to 1285.00 support and 1294.00 resistance.