Title
XAUUSD H4 I Bearish breakout

Type
Bearish Breakout

Preference:
Price is falling toward the pivot point of 2302. A break of the pivot could lead the price to drop to 1st support at 2262,  which is a pullback support level close to 161.8% Fibonacci extension

Alternative scenario:
If the price bounces off the pivot, it could rise to 1st resistance at 2342 an overlap resistance level.

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