XAUUSD is approaching pivot, potential reversal

Price is approaching our pivot, in line with the horizontal pullback resistance and 78.6% fibonacci retracement and 100% 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 1855.36.

Pivot: 1831.58
Supporting Points:
horizontal pullback resistance and 78.6% fibonacci retracement and 100% fibonacci extension

1st Support: 1788.73
Supporting Points:
Horizontal pullback support and 78.6% fibonacci retracement

1st Resistance: 1855.36
Supporting Points:
horizontal swing high resistance

Trading FX & CFDs carries high risk.