Fed holds rates—gold bounce or just a sell-the-rally setup?GoldOANDA:XAUUSDSeSeLinaaa-GoldGold is rebounding after FOMC—but is this real strength or just positioning before another drop? Macro Narrative: The Fed kept rates unchanged but maintained a cautious stance, signaling that rate cuts remain limited. With inflation still a concern and yields elevated, gold faces ongoing macro pressure despite short-term relief. News Context: Gold +0.7% after ~4% drop → dip buying emerges Fed holds rates, signals limited cuts ahead Oil spikes amid Iran–Israel conflict → inflation risk rises USD strengthens → additional pressure on gold Powell: Cuts depend on inflation progress IF–THEN News Scenarios: If yields stay high → gold may continue lower after pullback If USD weakens → short-term upside squeeze possible Technical Overview (H2): Bearish structure remains intact with clear lower highs. Current move is a rebound after liquidity sweep into 4,80x demand, approaching FVG + trendline resistance. Key Levels: Resistance: 4,970 – 5,007 (FVG + trendline) Support: 4,807 Current price: ~4,85x (rebound phase) Market Debate: Is this a post-Fed relief rally—or a better short opportunity?