The major three factors to be watched for gold price movement are
1. US Dollar index – Strong (negative for gold )
2.USDJPY- (negative for gold )
3.US 10 –year yield – 2.85% (0.11% for the day (neutral for gold )
The pair is facing strong trend support at $1239 ( joining $1046 and $1122) and any break below will take the yellow metal till $1234 (200- W MA) and any weekly close confirms further weakness.
The near term resistance is around $1252 (10- day MA) and any convincing break above will take the yellow metal till $1258/$1262 (20- day MA)/$1266.
It is good to sell on rallies around $1250-52 with SL around $1260 for the TP of $1234.