XAUUSD — 4,140 Retest or 4,040 Sweep?GoldOANDA:XAUUSDTiara_PrimeGoldGold is trading around 4,119 after rejecting the short-term recovery. H1 remains bearish inside the descending channel. Macro News Fed minutes showed most policymakers still see further tightening as appropriate, while the dollar remains near an 18-month high and U.S. 10Y yields are around 5.30%. Markets now see a low chance of an October hike, but December tightening expectations remain elevated. The simple read 4,123–4,140 is the key short-term decision area. If price retests and rejects this zone, Gold may continue lower toward 4,070 and the major channel support around 4,040–4,050. A clean reclaim above 4,140 would weaken the immediate bearish pressure and open room toward 4,180. Key price zones 4,123–4,140 — Retest resistance 4,180 — Short-term supply 4,070 — Liquidity area 4,040–4,050 — Major channel support H1 remains bearish below the descending channel structure. I prefer waiting for the 4,12x–4,14x reaction rather than chasing the move.