On the chart, we can see retracement levels as follows: 0.7955 (23.6%), 0.7764 (38.2%), 0.7609 (50.0%), 0.7454 (61.8%), and 0.7263 (76.4%). Now, we expect that if the price of gold declines from its peak, it will encounter support at the mentioned Fibonacci levels because many traders will place buy orders at these levels when the price retraces.
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