XAU/USD: Bearish Continuation After Key Resistance Rejection

This idea highlights a bearish continuation setup for XAU/USD after a rejection at the 2,637 resistance level. The price is respecting the short-term downtrend, forming lower highs and lower lows. A short position is taken with:

Entry Point (EP): 2,637
Stop Loss (SL): 2,650 (above resistance zone)
Take Profit (TP): 2,615 (key support level)

The setup aligns with bearish momentum, and further downside is expected unless the price invalidates the trend by breaking above 2,650. Watch for bearish candlestick confirmations on smaller timeframes for added confidence."

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