Alex Bobrov
⬤ Gold just had a pretty sharp pullback after running to fresh highs, but here's the thing — the overall bullish structure on the 1H chart is still very much alive. XAU/USD dropped into a higher-timeframe order block that lined up with a fair value gap and a prior break of structure. That kind of confluence doesn't show up by accident. It's exactly the kind of zone where the market finds its footing, and that's what happened here.
⬤ The pullback took price straight into the 4,780–4,850 range — a zone packed with technical confluences: an order block, a fair value gap, and earlier structural support all stacking up in the same area. Selling pressure dried up right there, and buyers stepped in to defend the trend. That's not noise; that's real demand holding the line.
⬤ What gave it away was the liquidity sweep. Price dipped below recent short-term lows — classic stop-loss hunting — and then snapped back almost immediately once that liquidity was cleared. No sustained bearish follow-through, no breakdown of the higher-timeframe trend. This is textbook re-accumulation behavior you see in strong bull runs, and it's exactly what traders were watching for.
⬤ The bigger picture here ties into USD strength and interest rate expectations, both of which have been driving gold's volatility lately. The fact that XAU/USD held its key structural levels through this correction keeps the upside setup technically valid. Expect the choppiness to continue in the near term, but the trend itself hasn't changed.
Alex Bobrov
