EURGBP London briefing — 2026-08-05

BIAS BULLISH — H4 and H1 EMAs aligned bullish; RSI neutral avoids overbought; D1 bearish structure is longer-term headwind but intraday momentum favours buyers. KEY LEVELS R: 0.8593, 0.86, 0.865 | S: 0.855, 0.85, 0.848 NEWS 🟡 HCOB Composite PMI (EUR) 08:00 UTC 🟡 HCOB Services PMI (EUR) 08:00 UTC 🟡 S&P Global Composite PMI (GBP) 08:30 UTC SESSION OUTLOOK London opens into soft PMI data. Watch 0.8593 for intraday resistance; support holds near 0.855. Softer prints could trigger mean-reversion dips.

Key Levels

R: 0.85930 · 0.86000 · 0.86500

S: 0.85500 · 0.85000 · 0.84800