XAUUSD is facing bearish pressure from pivot, potential reversal

Price is facing bearish pressure from our pivot, in line with the 23.6% fibonacci retracement and 78.6% fibonacci extension where we could see a further drop below this level to our first support target. Failure to hold below the pivot level could see prices swing towards our first resistance target at 1805.28.

Pivot: 1785.73
Supporting Points:
Graphical swing low support and 100% Fibonacci extension

1st Support: 1764.83
Supporting Points:
100% Fibonacci extension

1st Resistance: 1805.28
Supporting Points:
161.8% Fibonacci extension, 38.2% Fibonacci retracement

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