#XAUUSD, H4 is trading sideways, potential for a breakout to the

Description
Price is trading sideways near our Pivot of 1764.58 which is in line with 78.6%% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing low support, where we could see a breakout from pivot level towards 1732.64 level in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement and horizontal swing low support. If prices do not breakout, an upside target could be 1797.11 in line with horizontal swing high resistance and 38.2% Fibonacci retracement. MACD is also below 0, showing that a bearish pressure is more possible.
Pivot: 1764.58
Why we like it:
78.6%% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical swing low support

1st Support: 1732.64
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing low.

1st Resistance: 1797.11
Why we like it:
38.2% fibonacci retracement and horizontal swing high

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