Watching XAUUSD for a deeper pullback into 2300-2310
I'm still relatively new to the gold game, but I've been watching $XAUUSD pull back these past few days and it's starting to look interesting. The strong move up stalled, and now we're seeing some consolidation. I'm wondering if we'll see a deeper pullback into that 2300-2310 area. That seems like a pretty significant zone, potentially a retest of previous support before a bounce, or maybe even a continuation down. My current thinking is that if we breach and hold below 2290, especially on daily closes, then this entire idea of a bounce from 2300-2310 might be invalidated, and we could be looking at a more substantial retracement. What are others seeing in this range? Any thoughts on that 2300 handle specifically?
A retest of previous support in that range would make sense structurally. However, gold has shown a tendency to defy typical technical patterns lately, so I'd be cautious about assuming a clean bounce.