XAUUSD – Rejection from Trendline, Potential Pullback AheadGold vs US DollarPEPPERSTONE:XAUUSDAdrian_Trades_Gold is currently trading inside a well-defined ascending channel, respecting higher highs and higher lows structure. Price recently tapped into a key descending trendline resistance near the 4720–4740 zone and showed a clear rejection. After this rejection, we can see short-term weakness forming, suggesting a possible corrective move before any continuation. 🔍 Key Levels to Watch: Resistance: 4720 – 4740 (trendline + recent high rejection) Immediate Support: 4660 zone Next Support: 4620 area (strong demand + structure base) 📉 Scenario: If price fails to break and hold above the trendline, we can expect a pullback toward 4660, and potentially deeper into 4620 support. A break below support could shift short-term momentum bearish. 📈 Alternative Scenario: A strong breakout and retest above the trendline could invalidate the bearish idea and push price toward new highs. 💡 Conclusion: Market is at a critical decision point — either continuation after breakout or a healthy correction within the channel. Watch confirmation before entering.