XAUUSD H4 | Bearish Reversal
Title
XAUUSD H4 | Bearish Reversal
Type
Bearish Breakout
Preference:
price is rising toward of the pivot of 2566.25, a pullback resistance .A reverse from this level could lead the price to fall to 1st support at 2531.84, a pullback support close to the 61.8% Fibonacci Retracement.
Alternative Scenario:
If price breaks above the pivot, it could rise to 1st resistance at 2589.56, a multi swing high resistance level.