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XAUUSD approaching resistance, potential drop!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is approaching our first resistance at 1263.30 (horizontal swing high resistance, 50% fibonacci retracement , 100% fibonacci extension ) and a strong drop might occur below this level pushing price down to our major support at 1250.19 (23.6% fibonacci retracement , 100% fibonacci extension ).
Stochastic (34,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresonding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

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