XAUUSD continues to trade within an ascending channel, characterized by a series of higher highs and higher lows, indicating that buying pressure remains in control of the primary trend. Following a strong breakout, the price is currently consolidating near the upper resistance zone, yet no significant reversal signals have emerged.

Furthermore, expectations that the Fed will soften its hawkish stance, combined with a weakening US dollar, continue to provide positive support for gold. This reinforces the current uptrend with backing from both technical and macroeconomic perspectives.

I favor a scenario where the price pulls back to the 4,170 level to retest support before buying pressure returns to drive the price toward the 4,300 target. As long as this support level holds, the bullish outlook remains strong.