XAUUSD has completed a complex Elliott Wave structure, potentially finishing Wave 5 within a contracting triangle bounded by a descending resistance and ascending support. Price recently reacted from the upper boundary near the 3440 zone and is now testing the ascending support line. A corrective ABC structure is visible, suggesting internal wave completion. If price rebounds toward the red supply zone around 3360–3380 and faces rejection, it would confirm bearish continuation potential. However, a clean break and retest of the ascending trendline could accelerate downside momentum toward support and lower, confirming a bearish breakout from the wedge pattern.