⬤ Gold is holding steady within its bullish channel following a decisive structural break on the H4 timeframe. XAU/USD is currently testing support near $4,590–$4,580 after a liquidity sweep, but the broader uptrend remains solid. Price action shows the metal respecting channel support during this pullback, suggesting buyers are still active and defending these levels.
⬤ The current channel formed after a clear structural breakout that shifted momentum decisively upward. Since then, gold consolidated near recent highs before pulling back into a well-defined support zone. Multiple candles are showing reactions within this area, indicating that sellers haven't been strong enough to break the structure. The liquidity sweep suggests this pullback is corrective, not the start of a reversal.
⬤ The $4,580–$4,590 zone is now the critical level for short-term direction. As long as price stays above channel support, the bullish setup remains valid and gold could rotate back toward the upper channel boundary. This support level lines up with previous consolidation lows, making it an important demand area. A sustained break below would signal a structural shift, but that hasn't happened yet.
⬤ Gold's ability to maintain this bullish channel after a strong breakout shows continued demand despite short-term choppiness. Holding channel support keeps the upside structure alive, while failure here would change the near-term outlook. For now, gold remains technically supported within its bullish trend.
