XAUUSD approaching resistance, potential drop!

٣ يناير ٢٠١٩XAUUSD is approaching our first resistance at 1290 (horizontal pullback resistance, 61.8% fiboancci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1261 (23.6% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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