EURUSD London briefing — 2026-05-05

BIAS BEARISH. D1 structure dominates despite H4 neutrality; RSI 40.78 supports downside continuation. KEY LEVELS R: 1.17, 1.175, 1.18488 | S: 1.1656, 1.165, 1.16 NEWS 🔴 ECB President Lagarde speech – Tue 12:30 UTC (EUR driver) 🟡 US Trade Balance data – Tue 12:30 UTC (low impact) SESSION OUTLOOK Lagarde speech catalyzes volatility; watch 1.17 resistance hold. Breakbelow 1.1656 accelerates bearish structure. PRO UNLOCKS Entry 1.16896→1.165, SL 1.17125, TP1 1.1656, TP2 1.16, FVG 1.1710–1.1725, liqu

Key Levels

R: 1.17000 · 1.17500 · 1.18488

S: 1.16560 · 1.16500 · 1.16000