Title
XAUUSD H4 | Potential bearish reversal?

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 1988.073 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1951.118 which is an overlap support that aligns with the 23.6% Fibonacci retracement level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 2021.627 which is a pullback resistance level.

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