A potential rise in XAUUSD is supported by two key signals:
- A test of the RSI support line.
- A rebound from the lower edge of the bullish channel.
If prices break below 2815 on 6 Feb 2025, the growth scenario will be invalidated, suggesting further decline toward 2765. A breakout above 2905 and price closure at this level, however, may accelerate growth, with targets above 2965.
In the near term, a pullback to test the support zone near 2845 could occur before a continued upward trend. A breakdown of 2815, however, would confirm bearish momentum, aiming for a target below 2765.