Following a rebound from the uptrend line, XAUUSD is stalling just below the resistance zone around $4,080. Repeated rejections at this level indicate that buying pressure is insufficient to regain short-term control.

Technically, gold has failed to break above this key resistance area and is hovering near the Ichimoku Cloud, reflecting a lack of momentum. Should selling pressure persist at this resistance level, the price is likely to retreat to retest the support zone around $4,030.

Fundamentally, expectations that the Fed will maintain high interest rates, combined with a "wait-and-see" sentiment regarding US labor data, continue to support the US dollar. This limits capital inflows into gold and increases the likelihood of a further correction.

I maintain a preference for a SELL scenario if the price fails to decisively break above $4,080, targeting the $4,030 zone.