EURGBP London briefing — 2026-08-04

BIAS BULLISH. H4 and H1 EMAs aligned uptrend; RSI neutral (57) avoids overbought; D1 bearish structure creates friction but intraday momentum favors buyers. KEY LEVELS R: 0.8593, 0.86, 0.865 | S: 0.855, 0.85, 0.84651 NEWS 🟡 HCOB Composite PMI (EUR) Wed 08:00 UTC 🟡 HCOB Services PMI (EUR) Wed 08:00 UTC 🟡 S&P Global Composite PMI (GBP) Wed 08:30 UTC SESSION OUTLOOK Watch 0.8593 resistance for breakout confirmation. PMI data tomorrow may pressure intraday structure; monitor D1 rejection zones today for reversal setups.

Key Levels

R: 0.85930 · 0.86000 · 0.86500

S: 0.85500 · 0.85000 · 0.84651