XAUUSD: Trend line capping the upside.GoldOANDA:XAUUSDNira_raFollowing an early-week rebound, XAUUSD approached the 4,080 resistance zone, which coincides with a downtrend line extending from previous highs. Price action quickly showed signs of rejection in this area, indicating that selling pressure is defending the bearish structure and buyers lack the strength for a reliable breakout. Notably, the price continues to trade within a descending channel, and upward momentum has slowed following the recovery. If XAUUSD fails to close above 4,080, this is likely just a retracement before the downtrend resumes. On the macroeconomic front, the market is focused on key US data releases this week, including the FOMC meeting, Q2 GDP, and the PCE price index. Investors are exercising caution ahead of these events, helping the US dollar maintain its strength and continue exerting pressure on gold. The preferred strategy is to wait for confirmation of rejection at the 4,080 level. If sellers maintain control of this zone, XAUUSD could slide back toward the 4,000 level—a critical support area within the current structure. Conversely, if the price clearly closes above 4,080 on the H1 timeframe and holds steady after a retest, bearish pressure would weaken, and the downside scenario would no longer be the primary outlook.