We investigate the Maximally Abelian (MA) Projection for a single $SU(2)$ instanton in continuum gauge theory. We find that there is a class of solutions to the differential MA gauge condition with circular monopole loops of radius $R$ centered on the instanton of width $rho$. However, the MA gauge fixing functional $G$ decreases monotonically as $R/rho rightarrow 0$. Its global minimum is the instanton in the singular gauge. We point out that interactions with nearby anti-instantons are likely to excite these monopole loops.
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