XAUUSD London briefing — 2026-10-29

BIAS BEARISH. D1 structure, H4/H1 EMA alignment, and bearish fair-value gaps across H4/H1 timeframes drive directional conviction despite neutral RSI. KEY LEVELS R: 4050, 4100, 4225.62 | S: 4000, 3975.83, 3950 NEWS 🔴 Core PCE MoM/YoY (USD) Thu 12:30 UTC 🟡 Jobless Claims (USD) Thu 12:30 UTC SESSION OUTLOOK USD strength from PCE data likely pressures gold lower. Monitor holds above 4000; breaks below target 3975–3950.

Key Levels

R: 4050.00 · 4100.00 · 4225.62

S: 4000.00 · 3975.83 · 3950.00