Title

XAUUSD H4 I  Bearish Reversal 

Type

Bearish Reversal 

Preference:

The price is moving towards the pivot level of 12651, which serves as a pullback resistance near the 50% Fibonacci retracement. A reversal at this level could cause the price to drop to the 1st  support at 2616.32, a swing low support.

Alternative Scenario:

 If the price breaks above the pivot, it may rise to the 1st  resistance level at 2677.58, which acts as a swing-high resistance.