Title

XAUUSD H4  | Bearish Reversal

Type

Bullish Bounce

Preference:

price has just bounced off to the pivot of 2585.50, a pullback resistancet. A fall  from this level could lead the price to drop to 1st support at 2529.35, a pullback support.

Alternative Scenario:

If price breaks above  the pivot, it could rise  to 1st resistance at 2597.65,  lines up with the 161.8% Fibonacci Extension