XAUUSD H1
Bias: BUY
- Price has broken out of the descending channel with strong bullish momentum.
- Immediate support is around 4048–4053. A retest of this zone could provide a buying opportunity.
- A sustained break above 4118 confirms further upside strength.
- Targets: 4118 → 4160–4165 (major resistance/supply zone).
- Invalidation: A drop below 3998 would weaken the bullish outlook and increase the risk of a deeper pullback.
Conclusion: The H1 structure favors buying on pullbacks, with 4118 as the first target and 4160–4165 as the next bullish objective.
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