XAUUSD London briefing — 2026-07-20

BIAS BEARISH. H4 & H1 EMAs aligned downtrend; D1 structure confirms; RSI neutral avoids overbought traps. KEY LEVELS R: 4050, 4100, 4202 | S: 4000, 3959.59, 3950 NEWS 🟡 3M & 6M Bill Auctions (USD) Mon 15:30 UTC — low impact SESSION OUTLOOK Watch 4000 hold as initial support. USD bill auctions may stabilize greenback, pressuring gold lower toward 3959.59. PRO UNLOCKS Short structure invalidation, fib retracements, liquidity pools, exact shorts—unlock with Pro.

Key Levels

R: 4050.00 · 4100.00 · 4202.03

S: 4000.00 · 3959.59 · 3950.00