XAUUSD is facing bearish pressure from pivot, potential reversal

Price is facing bearish pressure from our pivot, in line with the horizontal overlap resistance, 23.6% fibonacci retracement and 127.2% 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 1799.40.

Pivot: 1785.73
Supporting Points:
horizontal overlap resistance, 23.6% fibonacci retracement and 127.2% fibonacci extension

1st Support: 1764.14
Supporting Points:
Horizontal swing low support, 100% Fibonacci extension

1st Resistance: 1799.40
Supporting Points:
38.2% Fibonacci retracement

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