XAUUSD is facing bearish pressure from pivot, potential drop

Price is facing bearish pressure from our pivot, in line with the horizontal swing high resistance and 61.8% fibonacci retracement 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 1816.86.

Pivot: 1805.03
Supporting Points:
horizontal swing high resistance, descending trend line and 61.8% fibonacci retracement

1st Support: 1775.19
Supporting Points:
Horizontal pullback support, 76.4% fibonacci retracement

1st Resistance: 1816.86
Supporting Points:
horizontal swing high resistance, 61.8% fibonacci extension

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