Gold (XAUUSD) – Bearish Rejection from Channel High Signals DownGoldOANDA:XAUUSDJames_logicPrice was previously moving inside a well-defined ascending channel, respecting both upper and lower boundaries. A clear rejection occurred near the upper channel resistance (weak swing high area), followed by a sharp impulsive drop — indicating potential distribution and shift in momentum. Currently, price is attempting a corrective pullback toward the mid/upper channel region, but the structure suggests this is a bearish retest rather than continuation. Key Levels: Resistance: 4,720 – 4,760 Support: 4,520 – 4,480 Target (TP): 4,520 (first target) 4,480 (extended target) Stop Loss (SL): Above 4,780 Reasoning: The rejection from the channel high combined with a strong bearish impulse indicates that buyers are losing control. The current upward movement appears corrective, forming a potential lower high.