XAUUSD, H4 is approaching our Pivot point, potential bounce.
Price is approaching our support level in line with our graphical pullback support and 23.6% fibonacci retracement where we could see a bounce above this level to our resistance target. Ichimoku cloud is showing signs of bullish pressure, in line with our bullish bias.
Pivot: 1729.92
Why we like it:
graphical pullback support and 23.6% fibonacci retracement
1st Support: 1705.14
Why we like it:
61.8% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1761.62
Why we like it:
Graphical pullback resistance and 61.8% fibonacci retracement
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