The rally in GOLD (XAUUSD) has stalled at $1246 as it proves too strong, so far this week. The leg down to 1242 and the key Daily 200 MA and S1 at 1242 could prove important. The H1 is consolidating at these highs waiting for direction. ECB and a quiet US data session to come, direction is likely to come from the bid on the USD. Nice 'ol channel up here.