Refer to FCOM DSC-22_30-60-20 "Managed Speed/Mach Target" for the answer, it's in black and white 👍🏼
The relevant part to this question states that once the approach mode is activated on the FMGS (or a number of other relevant criteria), then the speed target is:
VAPP, corrected by the Ground Speed Mini function (Refer to DSC-22_30-60-20 Ground Speed Mini Function). Before reaching the landing configuration, the speed will not go below:
Green Dot, in clean configuration
S, in CONF 1
F, in CONF 2
F, in CONF 3, when CONF FULL is the landing configuration (as defined in the PERF APPR page).
The limiting speeds are not target speeds, they are exactly that, limits. The aircraft will only reduce down to that limit until the limit is removed and it can reach it's target speed. Similarly, the aircraft will pitch to not exceed Vfe, when accelerating to enroute climb speed, if flaps are still extended.