Title
XAUUSD H4 | Falling to Overlap Support

Type
Bullish Bounce

Preference:
Price could fall towards the pivot point of 2,483.52 which is an overlap support level and potentially reverse from here; we could see momentum carry price up to its 1st resistance at 2,524.64 which is a pullback resistance level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 2,470.64 which is a pullback support that sits under the 38.2% Fibonacci retracement level.

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