Gold (XAUUSD) — Bearish Scenario From 4,650 Area GoldOANDA:XAUUSDgoldenpipspremiumGold is showing signs of short-term weakness after rejecting the upper supply zone around 4,675–4,680 and losing the rising intraday trendline. The current structure keeps the bearish scenario valid while price remains below the 4,675–4,680 resistance/supply zone. 🎯 Downside levels: • Target 1: 4,605 — first major support • Target 2: 4,575–4,580 — projected target area shown on the chart • Extended support: 4,520 — only if the lower structure gives way The key area to watch is 4,625–4,630. A sustained break below this zone could increase the probability of continuation toward 4,605 and then 4,575–4,580. ⚠️ Invalidation: sustained acceptance above 4,675–4,680 would weaken this bearish scenario and require a fresh assessment. This is a technical-analysis scenario based on the 15-minute chart, not a guaranteed outcome or investment advice. Price action and risk management remain essential. 📊