Gold attracts some sellers after modest recovery in USD.

US Dollar edged higher against its major peers from its October's low, exerting pressure on the yellow metal. Fed policymakers collectively decided to maintain the key interest rate at 4.50% as they closely monitor the possible repercussions of Trump's inflationary policies in the near future. Even though it is widely expected for the Fed to deliver two quarter point rate cuts this year, the central bank seems to be in no rush to do it anytime soon. However, geopolitical tensions elevating in the Middle East and between Russia and Ukraine keep the investors on the edge of their seats. 
From technical perspective, a Head and Shoulder pattern formed on the 4H chart of gold hints that some profit booking might take place and prices are poised for further decline towards $3000 once they breach the neckline at around $3022-$3023. 
On the upside, prices may face resistance at $3055-$3057 peak which was attained on Thursday. Sustaining above that level, Gold is set for new record highs. 

Gold Structure: Doji on Daily, H&S on 4hr, Bear Flag on 15mins.

Intraday Strategy/ Intraday Trend: Sell on Rise, Sell on Break of Supports/ Bearish

Weekly Trend: Bullish

Major Resistance: 3035, 3046, 3057

Major Support: 3025, 3018, 3005