On the 3H chart of XAUUSD, price is currently consolidating below a strong resistance zone around **5200–5220**, which has previously acted as a supply area. The market structure shows rejection from higher levels and continued sideways movement under the resistance, indicating weakening bullish momentum.
Price may attempt a **short-term push upward to sweep liquidity** near the resistance zone before facing strong selling pressure. The Ichimoku cloud ahead also suggests resistance, limiting further upside strength.
After this potential liquidity grab, the market is expected to **reverse and move bearish**, targeting the major demand zone near **5000**, which aligns with the marked support region and previous reaction area.
**Target:
🎯 **Primary Target:** 5000
📉 **Bearish confirmation:** Rejection from the 5200 resistance zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
