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XAUUSD approaching support, potential bounce!

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XAUUSD is approaching our first support at 1283.81 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement).
Stochastic is also approaching support.
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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