Gold Heads Back To A Critical Buy Zone | XAUUSD 29/06

Gold is showing signs of a short-term bearish retracement after failing to sustain its recent recovery rally. Sellers have started to regain momentum, with price rotating back toward the 3,980–3,990 H1 BUY Order Block.

The key question?

Is this the beginning of another impulsive sell-off, or simply a healthy pullback before buyers attempt the next leg higher?

While the recent decline favors sellers in the short term, the broader recovery structure remains valid as long as the H1 demand zone continues to hold.

For now, sellers control the retracement.

But the next reaction at demand could decide the market’s next move.

📍 Currently

• Price failed to extend above recent swing highs

• Sellers have regained short-term momentum

• Price is retracing toward the 3,980–3,990 H1 BUY Order Block

• The BUY OB remains the key demand zone for buyers

• A bullish reaction from demand could restart the recovery

• Major H1 resistance remains at 4,135–4,145

• The larger rejection zone is located at 4,200–4,215

📈 Trading Plan

Bias: Short-term Bearish Retracement Before Potential Bullish Continuation

📍 Main Zone

• 3,980–3,990 → H1 BUY Order Block

💡 Execution Idea

Rather than chasing the current decline, traders may wait for price to revisit the 3,980–3,990 BUY Order Block. A bullish reaction and H1 confirmation from this demand zone could provide an opportunity for buyers to target the recent highs, followed by the H1 Order Block at 4,135–4,145.

However, if price fails to defend the BUY OB and closes below it on the H1 timeframe, the recovery structure would weaken, increasing the probability of a continuation of the broader bearish trend.

🎯 Targets

→ TP1: 4,080 → Recent Swing High

→ TP2: 4,135 → H1 Order Block

→ TP3: 4,145 → Supply Completion

→ TP4: 4,200–4,215 → Major Rejection Zone

❌ Invalidation

A confirmed H1 candle close below the 3,980–3,990 BUY Order Block would invalidate the bullish recovery scenario and suggest sellers are regaining broader control.

💡 Key Insight

A healthy pullback is not the same as a bearish continuation. If buyers successfully defend the H1 BUY Order Block, this retracement may simply provide the foundation for another recovery toward higher liquidity.

❓ Key Question

Will Gold find fresh demand at the H1 BUY Order Block, or will sellers break through support and resume the broader downtrend?