XAUUSD London briefing — 2026-09-17

BIAS BEARISH. H4 EMA bearish while H1 neutral creates divergence; RSI neutral near midpoint offers no bullish conviction; D1 structure neutral keeps downside capped but doesn't invalidate the hourly weakness. KEY LEVELS R: 4350, 4400, 4514.11 | S: 4300, 4250, 4238.37 NEWS 🟡 Building Permits MoM (USD) – 12:30 UTC 🟡 Building Permits Change (USD) – 12:30 UTC 🟡 Continuing Jobless Claims (USD) – 12:30 UTC SESSION OUTLOOK Medium-impact US data at London mid-session may trigger volatility around 4350 resistance. Watch if bears hold price below H4 EMA; breach above 4350 weakens the bearish thesis.

Key Levels

R: 4350.00 · 4400.00 · 4514.11

S: 4300.00 · 4250.00 · 4238.37