On the XAUUSD H1 chart the market has been carving a clear descending channel since the early‑June peak near 4320, with each swing lower than the previous. The recent eight‑hour window shows price testing the upper channel edge around 4210 before being rejected and retesting the 4180‑4190 zone. Volume peaked during the brief rally to 4210 (≈20k contracts) but has steadily declined to sub‑10k levels as price retreated, suggesting waning buying pressure and a lack of momentum to sustain a breakout. The candle close around 4191 sits just below the recent high, confirming the bearish bias. Given the intact resistance…

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