XAUUSD M30: Bearish outlook seen, further downside below 1786.50
On the M30 time frame, prices are approaching the resistance zone at 1786.50, in line with the Fibonacci confluence, descending channel’s resistance and 50 EMA. A pullback to this zone presents an opportunity to play the drop with 1774.80 as the next support target. Prices are holding below the 50 EMA which acts as a dynamic resistance, supporting the bearish bias.