XAUUSD Analysis H2 Timeframe

XAUUSD Analysis – Bearish Breakout & Potential Downside Move

Gold (XAUUSD) has broken out of its rising channel, signaling a potential shift in market structure.

After a Break of Structure (BOS), price retested the previous support line, now acting as resistance.

The rejection from this zone confirms bearish momentum, aligning with the breakout retest strategy.

If price fails to reclaim the broken support, we may see further downside towards the highlighted demand zones around $2,870 - $2,850. Traders should watch for rejection or continuation signals before entering new positions.

Bias: Bearish
Key Levels:
📉 Resistance: $2,940 (Breakout Retest Zone)
📉 Targets: $2,870 - $2,850 (Demand Areas)

What’s your take on this setup?

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