Gold USD is facing strong selling pressure during today’s trading session, as the price continues to move in a bearish trend below the pivot point at 4800, increasing the chances of further downside movement.
According to the main scenario, if the downward movement continues and the price remains below 4800, it is expected to target the 4700 level first, followed by 4600.
In the alternative scenario, if the price rebounds upward and breaks above the 4800 level, a corrective move toward 4900 and then 5000 may occur.
Holding above the 4800 level could support a temporary rise toward 4900, while the overall trend remains bearish unless a clear breakout occurs.
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