XAUUSD approaching resistance, potential drop!

XAUUSD is approaching our first resistance at 1263.30 (horizontal swing high resistance, 50% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1250.19 (23.6% fibonacci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresonding drop in price.
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