XAUUSD Weekly – Brian for OANDA:XAUUSD by BrianLionCapital — TradingView

Gold continues to trade within a correction structure after falling sharply from its previous highs. On the hourly chart, the price is forming a short-term bottom near the 4,880-4,920 demand zone, with multiple rejections confirming liquidity absorption at this level.

🔎Technical architecture

Major Support Area: 4,850–4,920 → Strong reaction area, prior liquidity survey.

Intraday Resistance: 4,980–5,020 → Short-term supply, a clean break is needed to confirm the continuation of the uptrend.

Key Resistance/Weekly Highs: 5,080–5,120 → See higher time frames and liquidity pools.

Fibonacci retracements show price sitting in the 0.236-0.382 retracement area before the recent decline.

Market structure suggests a range of pressures before larger directional moves. As long as 4,850 points are held, upward expansion to 5,000 points or even 5,100 points is still valid.
However, a break below 4,850 would open the way for a further correction towards around 4,760-4,700.

🌍 Basic background

Geopolitical tensions remain high after Ukraine announced new sanctions against Belarus, while developments with the PKK situation in Turkey have added to regional uncertainty.
While not an immediate catalyst, ongoing geopolitical risks continue to support safe-haven flows into gold.

At the same time, interest rate cut expectations remain strong, leading to higher volatility.

📊 Outlook for next week

Bullish scenario: Hold 4,850 points → Recover 5,000 points → Test liquidity area 5,080-5,120.

Bearish scenario: Below 4,850 → Corrective decline to 4,760 before any meaningful rebound.

Gold is currently in an uptrend mode. This burst of pressure is expected to set the stage for next week.

Follow channels to get systematic liquidity analysis and clearly monitor key levels ahead of market moves.