Gold Bears Still in Control – Will FVG3 Trigger the Next Drop?GoldOANDA:XAUUSDIGT_TradersXAUUSD (30M) – Bearish SMC Analysis 📉 Price formed a major Swing High and then delivered a strong bearish displacement, creating a clear Break of Structure (BOS). Subsequent rallies failed to make new highs, forming Lower Highs (LH) and confirming seller control. Multiple bearish Fair Value Gaps (FVG1, FVG2, FVG3) remain above price and act as potential supply zones. Key SMC Observations ✅ Multiple BOS to the downside confirm a bearish trend. ✅ Sell-side liquidity below recent lows has already been targeted. ✅ Current price is consolidating beneath FVG3, suggesting sellers are defending premium prices. ✅ Any retracement into FVG3 could provide a bearish continuation opportunity. Bearish Scenario As long as price remains below FVG3 Bearish Supply, the downside bias remains valid. Rejection from FVG3 could lead to another leg lower toward the major demand area. Target 🎯 Primary Target: 4070 Demand Zone Invalidation ❌ A strong break and close above FVG3 would weaken the bearish outlook and increase the probability of a deeper retracement into FVG2. The chart shows a clear bearish market structure with lower highs, repeated BOS, and unmitigated bearish FVGs. Sellers remain in control while price trades below FVG3, with 4070 as the next major downside objective.