XAUUSD H1: Bullish outlook seen, further upside above 1779.00

On the H1 time frame, prices are holding above an ascending channel and approaching the support zone at 1779.00, in line with the Fibonacci confluences and ascending channel’s support. This presents an opportunity to play the bounce to the next resistance target at 1802.80. Prices are holding above the 50 EMA as well, supporting the bullish bias.