Gold Consolidation Near Resistance, Watch for Breakout

Gold (XAU/USD) on the 4-hour chart is currently in a consolidation phase beneath a significant resistance area between 3,360 and 3,380, after several failed attempts to break through. The price remains above the 200 EMA, indicating a basic bullish trend, but the momentum appears weak as prices trade sideways within a narrow range. A definitive bullish breakout above the resistance zone with strong upward candles would signal a further rise. Conversely, a breach below the critical horizontal support near 3,300 could lead to a continued decline toward the 3,200 level. At this stage, the market is range-bound, waiting for a clear breakout to determine the next move.