XAUUSD continues to trade within a well-defined descending channel, consistently forming lower highs, suggesting that sellers remain in control of the short-term trend. Although the price is currently rebounding toward the upper boundary of the channel, buying momentum is still not strong enough to confirm a bullish reversal.

The 4,080–4,100 zone is a key area to watch. If the price is rejected here once again, it could trigger another bearish move toward the 4,000 support level.
Trade Setup: A sell position is preferred if the price reaches the upper boundary of the descending channel and prints a clear bearish rejection signal.
Target: 4,000

The bearish outlook will be invalidated if XAUUSD breaks above and closes decisively beyond the descending channel.

This analysis reflects personal opinion only and should not be considered investment advice. Always confirm your own analysis and apply proper risk management before entering any trade.