Gold: Breakout or bounce from the 200 EMA, 4 hour chart?

Gold has been having a good pullback lately, in part supported by the decline in the US Dollar. On the 4 hour chart we can see that the price has reached the 200 exponential moving average zone around the 1193.31. The 200 EMA tends to become a good support or resistance level, especially on the 4 hour chart. However, we can see on the chart that the price has already touched the 200 EMA once and it tried to bounce from there, but it has now come back to that level. The more times the price visits that 200 EMA or consolidates around it, the higher the probabilities of seeing a breakout instead of a bounce. The best thing to do is to wait for confirmation of the breakout and then the pullback to this same moving average for a possible long entry.