XAU/USD 1 h FRAME(Sell)

We remain bearish below major resistance at $1,183 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance). The price can decline further to the support at $1,160 (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) continues to drop from our 88% resistance and has good downside potential. Sell below $1,183. Set stop loss at $1,200 and take profit at $1,160.