XAUUSD breaks out – bullish bias returnsGoldOANDA:XAUUSDRocky_trade_Gold has bounced from the bottom of the descending channel, initiating a clear upward move with a series of strong bullish candles. On the H2 chart, price has broken above the upper boundary of the medium-term downtrend channel and filled the nearest fair value gap, signaling a resurgence in buying pressure. Current price action is approaching a previous resistance zone, aligned with recent swing highs. The chart suggests a potential consolidation before further upside, provided that the current bullish structure remains intact. From a macro perspective, while the stronger-than-expected U.S. PMI data supports the USD in the short term, weak labor market figures and ongoing global geopolitical tensions continue to fuel demand for gold as a safe-haven asset. This environment is helping sustain XAUUSD’s current recovery structure.