Title
XAUUSD H4 | Bounce off 1st support level

Type
Bullish Bounce

Preference:
Price is approaching our pivot at 2032.969 which is a pullback  resistance level that lines up with 38.2% Fibonacci retracement. A bounce off from this level, price could rally to 1st resistance at 2045.629 which is an overlap resistance

Alternative scenario:
However, if price breaks below the pivot, it could  drop to 1st support at 2010.869 which is an overlap support

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