Here you can see the overall view about the XAUUSD price movement in weekly chart.The pink line shows the last all time high price. There is the last bullish uptrend going from September 2022,that is important to take a look at. I marked the Fibonacci correction area of this bullish trend with blue square.
Now as I am breaking down the timeframe, going into the details. Pic in (2H) chart. We see the first bearish reaction at 2065.00 price level. Correctiv but steady going down months. In this time multiple times the market tries to break out and build up bullish sequence (see around the 1932.00 price level). Eventually came into the bearish downtrend's correction area. I personally like to break down, how the market has been behaving in the past. Gives me understanding and clarity about future possibilities.