XAUUSD approaching resistance, potential drop!

XAUUSD is approaching our first resistance at 1295.80 (50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1267.81 (horizontal swing low support, 61.8%, 100% Fibonacci extension).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
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Chart PatternsHarmonic PatternsTrend AnalysisUSDXAUXAUUSDxauusdlongxuausdshort

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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