XAUUSD: A Pullback Could Set Up the Next RallyGoldOANDA:XAUUSDGoldenPearl_tradGold remains within a well-defined ascending channel, and the broader structure is still bullish. The recent pause below the highs looks more like profit-taking after a strong rally than a confirmed reversal. The important area now is the confluence between the rising channel support and the Fibonacci retracement zone. A pullback into this region would be healthy for the trend, provided buyers absorb the selling pressure and create a clear bullish rejection. That reaction would show that the market is using the dip to build a higher low rather than breaking its structure. Once price regains upside momentum, the path toward the upper channel boundary opens again. My bullish target is 4,930. The view weakens if price breaks decisively below the rising channel and fails to recover.