On daily chart of GOLD quotes price starting from June 7 sharply falls. It seems that this dynamics will lead the price at least to a line recently perfectly honoured, joining the last three lows. So it seems that GOLD still has considerable downside potential in near future.

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Having a defined trend in a higher time frame, it is worth to look for a significant resistance zone at a lower time frame.

Looking at H1 chart, we see a clear downward trend. Currently, correctional move begins. Closest resistance is in region 1250-51. It seems that in these areas it is worth looking for sell signals.

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