Gold slid sharply this week, erasing 2 weeks of gains in April in just one session. Traders have since stabilized gold price around the 1300 handle. (xauusd 1h chart, 4/17) Consolidation range:The 1H chart shows a consolidation. Avoiding the spike, we can see the range roughly between 1293.50 and 1307. Note that both these levels were previous support/resistance pivots.Breakout scenarios:A break above the range maintains a neutral-bullish outlook that is poised to test the 1330 handle.A break below, maintains a neutral-bearish mode, with the 1277 low in sight.