XAUUSD approaching support, potential bounce!

XAUUSD is approaching our first support at 1248.13 (horizontal overlap support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1265.29 (horizontal overlap resistance 61.8% Fibonacci extension, 38.2%, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price.
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