XAUUSD London briefing — 2026-06-01

BIAS BEARISH. H4 EMA confirms downtrend; RSI(14) 42.7 neutral but below 50; D1 structure lacks conviction yet price sits above 4500 support. KEY LEVELS R: 4550, 4600, 4726.44 | S: 4500, 4450, 4367.19 NEWS 🟡 S&P Global Manufacturing PMI (USD) 13:45 UTC 🟡 Construction Spending MoM (USD) 14:00 UTC 🟡 ISM Manufacturing Employment Index 14:00 UTC SESSION OUTLOOK Soft US data cluster could weaken USD and lift gold mid-session. Watch 4500 support hold; breaks below trigger acceleration toward 4450. PRO UNLOCKS Entry zones, SL placement, TP cascades, liquidity sweeps, Fibonacci extensions, FVG targets—unlock with Pro subscription

Key Levels

R: 4550.00 · 4600.00 · 4726.44

S: 4500.00 · 4450.00 · 4367.19