Gold Could Continue to Decline If It Fails to Break Above 4,460GoldOANDA:XAUUSDMian-FXSignals📊 Market Overview: XAU/USD is currently trading around 4,440, after a sharp decline that saw the price briefly reach 4,397 before a technical rebound. Selling pressure remains dominant after Fed Chair Kevin Warsh took a hawkish stance on inflation, increasing expectations of a Fed rate hike in September. At the same time, tensions in the Middle East and rising oil prices are adding to inflation concerns. 📉 Technical Analysis: • Key Resistance: 4,450–4,460 | 4,475–4,490 • Nearest Support: 4,395–4,385 | 4,365–4,350 • EMA 09: Price is currently trading below the EMA 09 on H1 → short-term trend remains bearish. • Candlestick Pattern / Volume / Momentum: The sharp decline below 4,400 indicates that selling pressure remains strong. The rebound from 4,397 is mainly considered a technical correction, without enough confirmation of a bullish reversal. If the price continues to form lower highs below 4,450–4,460, bearish momentum is likely to remain intact. 📌 Outlook: Gold could continue to decline in the short term if it fails to break and hold above 4,460. If the price breaks back below 4,395, the decline could extend toward 4,365–4,350. Conversely, a decisive break above 4,460 could allow gold to recover toward 4,475–4,500. 💡 Suggested Trading Strategy: 🔻 SELL XAU/USD at: 4,457–4,460 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,465 🔺 BUY XAU/USD at: 4,400–4,397 🎯 TP: 40 / 80 / 200 / 300 pips ❌ SL: 4,392