EURCAD London briefing — 2026-10-05

BIAS BEARISH. H4 and H1 EMAs aligned downward; H4 and H1 fair value gaps confirm lower pressure despite neutral RSI. KEY LEVELS R: 1.6, 1.605, 1.6141 | S: 1.595, 1.59496, 1.59 NEWS 🟡 ECB Nagel speech (07:45 UTC) 🟡 ECB Lane speech (08:00 UTC) 🟡 HCOB Composite PMI (08:00 UTC) SESSION OUTLOOK London opens into two ECB speeches and PMI data. Watch reaction near 1.6 resistance; bearish structure targets support.

Key Levels

R: 1.60000 · 1.60500 · 1.61410

S: 1.59500 · 1.59496 · 1.59000