Gold already broke below important support of 1680 on daily, weekly and monthly timeframe and flipped it into resistance. Also we are trading in downtrend channel from 2070.42. We rejected 0.5 fib level on hourly timeframe. Expecting it to bottom out around 1560-1550 have short open from 0.5 fib level to down 1560 with Sl on atleast 2% (would add more if we spike up to 0.618 fib) TP - 1560