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  • XAU/USD consolidates between familiar structure.
  • Bulls look to a break of current resistance while bears test bullish commitments at key support.  

Gold is at a crossroads as the price consolidates between short term support and resistance.  

The following is a top-down analysis that illustrates the downside outlook for the medium term and the prospects of a last-minute test of higher corrective highs.  

Weekly chart

Daily chart

4-hour chart

As per the above charts show, the price is trapped, but either outcome, the medium-term bias  is on the downside.