XAUUSD is approaching our first support at 1263.91 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1285.85 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching our support and a bounce above this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.