Technical analysis: 
Gold has been trading sideways today but I see potential for the downside continuation fo the bear trend.
Trading recommendation:
Due to the strong downside pressure in the background and breakout of the channel, I see potential for the further drop.
Watch for the potential selling opportunities on the rallies with the downside objectives at the price of $1.661 and $1.645.
Stochastic oscillator is showing negative reading, which is sign that sellers are in control.
Key resistance is set at the price of $1.674
