XAUUSD London briefing — 2026-08-28

BIAS BULLISH. H4 and H1 EMAs aligned uptrend; RSI neutral at 50.97 keeps upside open without overextension; D1 structure neutral doesn't contradict near-term momentum. KEY LEVELS R: 4650, 4695.94, 4700 | S: 4600, 4550, 4310.61 NEWS 🔴 Fed Chair Warsh speech 14:00 UTC 🟡 Chicago PMI 13:45 UTC 🟡 Michigan Consumer Expectations 14:00 UTC SESSION OUTLOOK Warsh speech and Michigan data overlap—watch USD reaction. Gold consolidates 4600–4650; breakout above 4650 targets 4695.

Key Levels

R: 4650.00 · 4695.94 · 4700.00

S: 4600.00 · 4550.00 · 4310.61