# Gold Breaks Key Support Level

> Gold price drops below critical support zone after failed bullish setup.
- Title: Gold Breaks Key Support Level · TradingView | Shortify
- Summary: Gold price drops below critical support zone after failed bullish setup. Gold broke below 4,148-4,157 key support level, shifting focus to deeper 4,118-4,130…
- Keywords: xauusd, gold, tradingview, pullback, support, resistance, business, finance, Breaks, Key, Level
- Source: TradingView — https://tradingview.com/chart/XAUUSD/PuAyJns9-H1-Pullback-Toward-Key-POI
- Published: 2026-10-20T03:32:29+00:00
- Read time: 1 min
- Topics: xauusd, gold, tradingview, h1, pullback, support, resistance, business, finance
## Gold starts week with mixed macro backdrop
Gold begins week with slightly supportive but mixed economic conditions.
## Oil prices pull back from recent highs
Oil prices have pulled back from recent highs, easing inflation pressure ahead of Fed's October 27-28 meeting.
## Market pricing shifts for Fed rate decisions
Markets now price only around 15% probability of October rate hike while December expectations remain elevated.
## Key technical support zone approaches
Price approaches 4,148-4,157 Key Pullback Support / POI near ascending trendline and Fibonacci structure.
## Bullish continuation scenario
If buyers defend 4,148-4,157, price could move toward 4,190-4,200 major resistance zone.
## Price breaks key support zone
Gold broke decisively below 4,148-4,157 Key Pullback Support / POI, invalidating bullish scenario.
## Price moves toward deeper demand zone
Price extended into 4,118-4,130 Major Demand / Discount POI before rebounding toward 4,141.
## Key takeaway

Gold broke below 4,148-4,157 key support level, shifting focus to deeper 4,118-4,130 demand zone.