XAUUSD approaching resistance, potential drop!

XAUUSD is approaching our first resistance at 1193.09 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1180.90 (horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Ichiomku cloud is also showing signs of bearish pressure in line with our bearish bias.
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Chart PatternsForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSDXAUXAUUSDxauusdlongxauusdshort

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