The chart shows a Fibonacci retracement on the 1-hour timeframe for XAUUSD (Gold vs. USD). Key observations:
Current Price: 2,860.88
Fibonacci Levels:
0.236 (2,846.78) – Key support level
0.382 (2,854.51) – Immediate support
0.5 (2,860.76) – Price is hovering around this level
0.618 (2,867.00) – Resistance
0.786 (2,875.90) – Strong resistance
Bearish...
