My Best analysis I have analyzed the recent price movement of gold (XAU/USD) on the 1-hour timeframe, and here are my observations:
1. Downtrend: The price is currently following a downward trend, indicating a bearish market sentiment.
2. Resistance Level: A strong resistance zone has been identified near the 2,598 level.
3. Potential Breakout: If the price manages to break above this resistance, an upward move can be expected. However, failure to break the resistance might result in a further decline toward the 2,560 level.
4. Bearish Target: A potential bearish target around 2,560 has been highlighted based on the current trend.