there are bullish channel drawn on the XAUUSD hour chart as you can see at the picture and also you can mention the Red color of the moving average which mean that the price is heading down for the current period.
The market opened today at a Lower values than the daily pivot point at 1249.3233 and according to the data shown it seems that the price may keep going down till it can reach the first daily pivot support located at the price of 1246.57 if the WPR indicator didn't show any opposite upward signals.
And in case of reaching the target you can keep selling till the next support at 1243.8166 which is a very strong support level to reach before the end of the day.
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