EURGBP London briefing — 2026-10-05

BIAS BEARISH. Trend vote (D1+H4+H1 EMAs aligned bearish), RSI deeply oversold (15.65), and both H4 and H1 fair value gaps biased down drive this direction. KEY LEVELS R: 0.85, 0.855, 0.86125 | S: 0.84588, 0.845, 0.84 NEWS 🟡 ECB Nagel speech 07:45 UTC 🟡 ECB Lane speech 08:00 UTC 🟡 HCOB Composite PMI 08:00 UTC SESSION OUTLOOK London open faces three medium-impact EUR events clustering at 08:00. Oversold RSI invites bounce risk; watch whether rallies stall at 0.85 resistance or gap fills spark continuation lower.

Key Levels

R: 0.85000 · 0.85500 · 0.86125

S: 0.84588 · 0.84500 · 0.84000