XAUUSD is approaching our first resistance at 1192.86 (horizontal overlap resistance, 38.2%
Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level
pushing price down to our major support at 1185.48 (horizontal overlap support).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (34) is also
facing bearish pressure and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

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