EURUSD London briefing — 2026-07-31

BIAS NEUTRAL. H4/H1 EMAs bullish, but RSI overbought at 70.43 and daily structure neutral create conflicting signals ahead of high-impact CPI data. KEY LEVELS R: 1.15363, 1.155, 1.16 | S: 1.15, 1.145, 1.13542 NEWS 🔴 Core CPI MoM (EUR) – 09:00 UTC 🔴 Core CPI YoY (EUR) – 09:00 UTC 🔴 CPI MoM (EUR) – 09:00 UTC SESSION OUTLOOK CPI release will likely trigger volatility. Watch rejection at 1.15363 resistance or hold above 1.15 support depending on data surprise.

Key Levels

R: 1.15363 · 1.15500 · 1.16000

S: 1.15000 · 1.14500 · 1.13542