XAUUSD London briefing — 2026-10-23

BIAS BEARISH. Trend vote (D1+H4+H1 EMA aligned), H4/H1 fair value gaps, and liquidity sweep of lows drive directional bias despite oversold RSI(14) at 21.85. KEY LEVELS R: 4050, 4100, 4280.56 | S: 4000, 3987.72, 3950 NEWS 🔴 S&P Global Manufacturing PMI (USD) — Fri 13:45 UTC 🔴 S&P Global Services PMI (USD) — Fri 13:45 UTC 🟡 S&P Global Composite PMI (USD) — Fri 13:45 UTC SESSION OUTLOOK London open sets tone into PMI prints. Watch for continuation into support; oversold conditions may trap weak shorts into data.

Key Levels

R: 4050.00 · 4100.00 · 4280.56

S: 4000.00 · 3987.72 · 3950.00