XAUUSD London briefing — 2026-10-21

BIAS BEARISH. D1 trend + H4 EMA + H1 EMA aligned downside; H1 fair value gaps reinforce lower direction despite H4 FVG bullish signals. KEY LEVELS R: 4150, 4200, 4316.81 | S: 4100, 4066.06, 4050 NEWS 🟡 MBA Mortgage Applications (11:00 UTC) 🟡 EIA Crude Oil Stocks Change (14:30 UTC) 🟡 EIA Distillate Stocks Change (14:30 UTC) SESSION OUTLOOK London session opens into soft USD data risk. Watch 4100 support; break below triggers H1 bearish structure toward 4066.

Key Levels

R: 4150.00 · 4200.00 · 4316.81

S: 4100.00 · 4066.06 · 4050.00