XAUUSD H1

After a deep fall to 1863.50 and we could probably see some retracement of the price into 1785. We got FOMC tomorrow and based on the weekly chart revealed that gold is bearish. If this week the price couldn't move and close above 1832 then we could probably see a deeper correction ahead.

Please note that breaking and closing below the support of 1863 will invalidate this idea and gold may get push down to the lower support of 1753.