XAUUSD London briefing — 2026-11-03

BIAS BEARISH. D1 structure, aligned H4/H1 EMAs, and confluent H4/H1 fair value gaps drive downside conviction. KEY LEVELS R: 3950, 4000, 4217.47 | S: 3900, 3866.02, 3850 NEWS 🟡 Factory Orders (MoM) 15:00 UTC 🟡 JOLTS Job Openings 15:00 UTC 🟡 Redbook Index (YoY) 13:55 UTC SESSION OUTLOOK Watch 3900 support hold into US data. Weaker jobs/orders prints could accelerate downside toward 3866.

Key Levels

R: 3950.00 · 4000.00 · 4217.47

S: 3900.00 · 3866.02 · 3850.00