XAUUSD approaching key resistance, potential for further drop!

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Price is facing bearish pressure from our first resistance at 1282.78 (38.2% Fibonacci retracement, Horizontal pullback resistance, 61.8% Fibonacci extension) where we can expect a further drop to our major support level at 1266.66 (100% Fibonacci extension, Horizontal swing low support).
Stochastic is also approaching resistance.
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