XAUUSD approaching resistance, potential drop!

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XAUUSD is approaching our first resistance at 1238.35 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 1220.90 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
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