1H XAU Scenarios 🟡 XAUUSD – 1H Technical Outlook
Gold continues to trade within a clear descending channel after failing to hold above the key resistance zone around 4097. The recent spike above the channel looks like a potential fakeout, as price was quickly rejected back below resistance.
Currently, XAUUSD is hovering near a mid-range support area, but bearish momentum remains intact as long as price stays under the red resistance zone.
Key scenarios:
🟢 Bullish Pullback Scenario:
A short-term recovery toward the channel’s upper boundary is possible. If price retests the 4090–4100 area and fails again, it may provide a high-quality sell setup.
🔴 Bearish Continuation Scenario:
Rejection from resistance and a breakdown from the lower channel could open the way for a deeper drop toward the major demand zone near 3920–3940.
Bias:
Still leaning bearish unless price can reclaim and hold above the 4097 structure. Watching for signs of exhaustion on any bullish retrace.
