XAUUSD London briefing — 2026-09-01

BIAS BEARISH. D1 structure confirms downtrend; H1 EMA bearish despite H4 neutral and RSI at 31 creates minor divergence, but daily conviction outweighs. KEY LEVELS R: 4450, 4500, 4695.94 | S: 4400, 4350, 4310.61 NEWS 🟡 Fed's Barr speech (13:05 UTC) 🔴 S&P Global Manufacturing PMI (13:45 UTC) SESSION OUTLOOK Barr speech and PMI data drive USD sentiment. Watch 4400 hold; breach risks 4350. Upside rejection at 4450 confirms bearish bias.

Key Levels

R: 4450.00 · 4500.00 · 4695.94

S: 4400.00 · 4350.00 · 4310.61