XAUUSD Approaching Resistance, Potential Reversal
XAUUSD is approaching its resistance at 1239.78 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1220.38 (61.8% Fibonacci extension, 38.2 Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
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