XAUUSD TRADE IDEA

The market remains in a short-term bullish structure after forming higher lows inside the ascending channel. Price recently rejected the 4653 support zone and pushed back toward the key resistance area around 4752.

However, momentum is weakening near resistance, and the latest rejection candle suggests buyers are struggling to maintain control above 4700. A confirmed break below the channel support and 4653 could trigger a deeper correction toward 4600–4560.

On the bullish side, holding above 4653 keeps the upward structure valid, with a potential retest of 4752 and possibly 4800 if resistance breaks decisively.

Current bias: cautiously bullish above 4653, bearish below channel support.

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