XAUUSD London briefing — 2026-05-12

BIAS BEARISH. D1 structure drives decision; H4/H1 neutral divergence confirms weakness, RSI 48.3 supports downside continuation. KEY LEVELS R: 4700, 4750, 4773.50 | S: 4650, 4600, 4503.72 NEWS 🔴 CPI MoM (USD) 12:30 UTC — high impact 🟡 ADP Employment 4-week avg 12:15 UTC — medium impact 🟡 NFIB Business Optimism 10:00 UTC — low impact SESSION OUTLOOK CPI print may trigger USD strength, pressuring gold lower toward 4650. Watch London open volatility around resistance before afternoon data release. PRO UNLOCKS Entry 4685, SL 4715, TP1 4660, TP2 4620, FVG 4680-4695, liqu

Key Levels

R: 4700.00 · 4750.00 · 4773.50

S: 4650.00 · 4600.00 · 4503.72