XAUUSD H1: Descending Channel Being Squeezed Increasingly TightGoldOANDA:XAUUSDardian_JoeGold is moving within a fairly steep descending price channel since the top near 4,120. What's notable is that the trading range within the channel is getting increasingly compressed — later candles have shorter bodies and bounce less off the channel's midline compared to the earlier phase, suggesting selling pressure is squeezing price harder, giving buyers little room for a meaningful recovery. Price is now approaching the lower channel boundary around the 4,030–4,040 zone, and with the channel being progressively squeezed, the possibility of price breaking through this lower boundary instead of bouncing as it did in previous instances is worth noting. The next level to watch is 4,020–4,030, a zone that could determine whether the decline continues to extend after breaking out of the channel. Area of interest: Watch price's reaction around the lower channel boundary at 4,030–4,040 for sell signals if price breaks through decisively. Invalidation point: If price bounces back strongly and closes above the upper channel boundary around 4,090–4,100, the short-term bearish structure will lose its edge.