Market Overview:
XAUUSD continues to trade below the descending trendline drawn from previous highs, indicating that buyers have yet to regain control. Although the price has repeatedly rebounded from the 4,020–4,030 support zone, each recovery has been capped by the dynamic resistance trendline, highlighting the continued presence of selling pressure.

Outlook:
A sell bias is preferred if the price is rejected again at the descending trendline or breaks below the current support zone.

The downside target is the 4,000 area, which is considered a key support level on the H1 timeframe.
This bearish scenario will be invalidated if XAUUSD breaks above and closes firmly above the descending trendline.
This analysis reflects personal opinions only and should not be considered investment advice.