XAUUSD London briefing — 2026-10-20

BIAS BEARISH. D1+H4+H1 EMA confluence and H1 fair value gaps drive downside conviction despite neutral RSI. KEY LEVELS R: 4150, 4200, 4371.45 | S: 4100, 4066.06, 4050 NEWS 🟡 ADP Employment Change 4-week average (Tue 12:15 UTC) 🟡 Building Permits MoM (Tue 12:30 UTC) SESSION OUTLOOK London opens into medium USD data. Watch 4100 hold as initial support; break lower targets 4066.

Key Levels

R: 4150.00 · 4200.00 · 4371.45

S: 4100.00 · 4066.06 · 4050.00