EURUSD London briefing — 2026-05-21

BIAS BEARISH. D1 structure + H4/H1 EMA alignment confirm downtrend; RSI neutral doesn't override confluence. KEY LEVELS R: 1.16, 1.165, 1.18088 | S: 1.15833, 1.155, 1.15 NEWS 🔴 HCOB Composite PMI (EUR) 08:00 UTC — HIGH impact 🟡 Current Account n.s.a & s.a (EUR) 08:00 UTC — LOW impact SESSION OUTLOOK PMI data critical; weak reading extends bearish momentum toward 1.155. Watch 1.16 rejection as shorting opportunity. PRO UNLOCKS Entry 1.1585, SL 1.1625, TP1 1.155, TP2 1.15, FVG 1.1605–1.1615, liquidity sweep

Key Levels

R: 1.16000 · 1.16500 · 1.18088

S: 1.15833 · 1.15500 · 1.15000