XAUUSD – Gold Rebounds HigherGoldOANDA:XAUUSDMarcus_SMC After the sharp selloff, gold failed to stay weak at the lows and quickly attracted buying pressure back into the market. This rebound does not look random. It reflects a clear reaction after downside liquidity was taken, with price beginning to recover toward the nearest supply area. Technical view The previous structure was clearly bearish, with consecutive downside breaks and strong displacement lower. Selling pressure pushed price well below equilibrium and into a deep discount zone. What changed was the reaction from the low. After tapping the 4,520–4,550 area, price rejected those lows aggressively and reversed higher. From an SMC perspective, this kind of move usually signals that downside liquidity has already been cleared and the market is starting a recovery phase. The current rebound is now developing toward the nearby bearish order block around 4,820–4,880, which is the first major supply area to watch. Key levels Demand / liquidity low: 4,520 – 4,550 Near-term support: 4,650 – 4,700 Current price area: around 4,690 Nearby supply (Bearish OB): 4,820 – 4,880 Major resistance: 5,040 Trading scenarios Main scenario – recovery continues higher As long as price holds above 4,650 – 4,700, the rebound can extend toward 4,820 – 4,880 to test the bearish order block. Extended bullish scenario If price breaks through the nearby supply zone with strength, the recovery can continue toward 5,040, where the broader structure would begin to improve more clearly. Failure scenario If price loses 4,650, the rebound would weaken and gold could rotate back down toward the liquidity low. Note This rebound is supported by a clear liquidity sweep at the bottom, which gives the move more quality than a normal technical bounce. Still, the 4,820 – 4,880 area remains the key zone, because that is where sellers previously took control. How price behaves there will determine whether this is only a short-term recovery or the beginning of a deeper bullish retracement.