Price recently broke down from a descending wedge.

📊 Gold (XAUUSD) – 1H Chart Analysis

Structure Overview:
Price recently broke down from a descending wedge/consolidation pattern after forming lower highs and lower lows — a classic sign of bearish pressure building up.

🔻 Bearish Breakout in Play:
The sharp move down through the wedge's lower boundary suggests strong momentum to the downside. This aligns with the previous rejection from the top of the falling channel.

🔮 Potential Scenarios:

1. Bearish Continuation (Primary Bias):

If price sustains below the wedge support and fails to reclaim the breakout zone, we could see a further decline toward lower support levels (as shown in the downward arrow).

Watch for possible reactions at 3350 → 3345 → 3340 zones.



2. Bullish Fakeout Recovery (Alternative):

If price quickly reclaims the broken trendline and forms a bullish engulfing or breakout structure, it could invalidate the breakdown, signaling a possible reversal and rally back up toward 3380+ (as indicated by the upward projection).




⚠️ Key Levels to Watch:

Support: 3350 / 3345 / 3340

Resistance: 3365 / 3380

Zone of interest: Retest of wedge breakdown area


📌 Insight:
The market has broken below the daily bullish FVG CE level, further supporting the bearish bias — but retests can trap sellers, so remain flexible.