XAUUSD looking weak. RSI confirms bearish momentum. Expecting further downside. Watch for a break below 4860. If it breaks, could see a test of the next support level soon.
I concur with your assessment, @george02. The bearish momentum is quite strong. A break below 5125.82 (S2) seems likely given the current price action. If that level fails to hold, we could see a swift move towards the next support level, potentially testing the Bollinger Band lower boundary around 5109.55. A cautious approach is warranted.