XAUUSD: Can Sellers Push Gold Toward the 4,240 Support Zone?Gold / U.S. DollarFOREXCOM:XAUUSDRatnerHello everyone, here is my breakdown of the current XAUUSD setup. Market Analysis XAUUSD previously formed a Rounding Top near the highs before breaking lower and shifting bearish. Price then entered a downward channel, where multiple breakouts above the Resistance Zone were rejected and price moved back lower. Currently, XAUUSD is trading below the 4,400 Resistance Zone while holding above the 4,240 Support Zone and respecting the downward channel. The recent rejection suggests sellers may attempt another move lower. My Scenario & Strategy As long as XAUUSD remains below the 4,400 Resistance Zone and respects the downward channel, the bearish scenario remains valid. A continuation lower could push price toward the 4,240 Support Zone (TP1). However, a breakout and close above 4,400 would weaken the bearish outlook and increase the possibility of further upside. That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.