XAUUSD London briefing — 2026-09-23

BIAS BEARISH. D1+H4+H1 trend vote combined with H1 fair value gap breakdown drives directional bias despite neutral RSI and bullish H4 FVGs. KEY LEVELS R: 4350, 4400, 4514.11 | S: 4300, 4250, 4238.37 NEWS 🔴 S&P Global Manufacturing PMI (USD) 13:45 UTC 🟡 S&P Global Composite PMI (USD) 13:45 UTC SESSION OUTLOOK Watch PMI releases at 13:45 for dollar strength confirmation. H1 bearish structure targets 4300 support if momentum sustains.

Key Levels

R: 4350.00 · 4400.00 · 4514.11

S: 4300.00 · 4250.00 · 4238.37