Pullback After a Rally

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Pullback After a RallyGold vs US DollarPEPPERSTONE:XAUUSDByrpnHsrplfGold has hit new highs driven by geopolitical developments in the Middle East, and a pullback is highly likely before further upside. As tensions in the Middle East ease, the U.S. dollar and oil prices have adjusted accordingly. After surging from 4600 to 4850, gold’s upward momentum has stalled, entering a correction phase. A break below 4793 could trigger further selling toward the key liquidity support at 4735. Close attention must be paid to news developments, as unexpected statements could lead to sharp market reversals. Resistance: 4793 − 4845 Support: 4735 − 4660 This pullback may target a liquidity accumulation zone, with 4660 as the critical support level. A firm hold and stabilization here could spark a rebound. The overall trend remains bullish, but the market is currently facing high uncertainty. I will continue to update trading strategies. Thank you for your support, and good luck!