XAUUSD London briefing — 2026-09-29

BIAS BEARISH. D1 structure, H4 EMA, and H1 EMA all aligned downward; H4 and H1 fair value gaps confirm lower pressure. KEY LEVELS R: 4150, 4200, 4514.11 | S: 4111.80, 4100, 4050 NEWS 🟡 Fed's Musallem speech 11:30 UTC 🟡 Housing Price Index 13:00 UTC SESSION OUTLOOK Watch for weakness into resistance 4150 ahead of Fed commentary. RSI neutral at 30.99 leaves room for continued downside without oversold bounce yet.

Key Levels

R: 4150.00 · 4200.00 · 4514.11

S: 4111.80 · 4100.00 · 4050.00