XAUUSD London briefing — 2026-05-08

BIAS BULLISH. H1 EMA bullish diverges D1 neutral; RSI 60 supports upside momentum into London. KEY LEVELS R: 4750, 4800, 4837.40 | S: 4700, 4650, 4503.72 NEWS 🟡 Fed Cook speech 09:45 UTC 🔴 Average Hourly Earnings MoM/YoY 12:30 UTC SESSION OUTLOOK Watch Cook remarks for USD weakness continuation. Earnings data at 12:30 UTC critical—strong print pressures gold lower; soft print extends H1 bull run toward 4750. PRO UNLOCKS Entry 4708 | SL 4698 | TP1 4745 | TP2 4800 | FVG 4725-4735 | Liquidity sweep 4750 | Fib 0.618 extension

Key Levels

R: 4750.00 · 4800.00 · 4837.40

S: 4700.00 · 4650.00 · 4503.72