Gold (XAUUSD) Bearish Rejection at Key Fibonacci ConfluenceGold vs US DollarPEPPERSTONE:XAUUSDMatthew_TraderGold remains in a definitive bearish structure following a sharp sell-off from the 4,725.43 peak. Despite brief geopolitical volatility temporarily shifting market sentiment, the overall price action maintains a clear pattern of lower highs and lower lows. A recent low-momentum recovery attempt is now facing strong rejection, confirming that institutional sellers retain control of the trend. Price is currently reacting heavily to a major supply area between the 0.5 (4,410.27) and 0.618 (4,484.65) Fibonacci retracement levels. A descending trendline perfectly aligns with this zone, acting as robust dynamic resistance. The failure to break above this dual-layered technical ceiling points to a high-probability bearish continuation. As long as the market holds below the 4,485 resistance, expect the downward impulse to resume. “If you come across this post, please like, comment, and share. Thanks!” Sellers may push price toward the marked targets: Target 1: ~4,093.68 Target 2: ~3,979.49