XAUUSD H1 | Bearish Structure Intact Ahead of Key US Data WeekGoldOANDA:XAUUSDFiora_Wintrade This week, Gold traders are closely watching several high-impact U.S. events: 🔹 Fed Chair Powell Testimony – Markets will look for clues regarding the timing of future rate cuts. 🔹 US Consumer Confidence A weaker reading could support Gold, while stronger sentiment may strengthen the USD. 🔹 US GDP Final Estimate (Q1) An upward revision would reinforce economic resilience and potentially pressure Gold. 🔹 Core PCE Price Index (Fed's Preferred Inflation Gauge) This is the most important event of the week. A hotter-than-expected PCE could delay rate-cut expectations and support Treasury yields and the Dollar. From a macro perspective, markets remain cautious after last week's FOMC meeting. The Fed maintained a restrictive stance, while easing geopolitical tensions in the Middle East continue to reduce safe-haven demand for Gold. Key Levels Immediate Resistance 🔹 4,140 - 4,150 (Current supply zone) Secondary Resistance 🔹 4,180 - 4,200 (Previous consolidation area) First Bearish Target 🔹 4,070 - 4,080 (Liquidity pocket) Major Demand Zone 🔹 4,030 - 4,040 (Institutional demand / discount area) Primary Scenario As long as price remains below 4,150, the bearish trend remains valid. Any retracement into the supply zone may provide fresh selling opportunities targeting: 4,070 → 4,040 The recent BOS confirms that market structure favors continuation lower. Bullish Invalidation If buyers reclaim 4,150 and secure an H1 close above the supply zone, downside momentum weakens significantly. In that case, Gold could attempt a deeper correction toward: 4,180 → 4,200