XAU/USD 1H Chart: Triangle

Another Triangle pattern today can be observed in the gold/greenback pair. Pair apex is at 1325.38 on 1st of August, 18:00 which is a substantial distance for any profile traders not to feel cornered and ignite any major moves. Short and medium term technicals give neutral outlook which only supports the idea that the pair remain bounded by the pattern. Based on the long term technicals we could expect a bullish breakout in the long term, but it is unclear what could be the main catalyst behind such movements.