EURUSD London briefing — 2026-08-21

BIAS BULLISH. H4/H1 EMAs aligned bullish, D1 structure intact, but RSI 73.58 signals overbought—bulls need pullback confirmation before continuation. KEY LEVELS R: 1.17, 1.17109, 1.175 | S: 1.165, 1.16, 1.15018 NEWS 🔴 HCOB Composite/Manufacturing/Services PMI (EUR) — Fri 21 Aug 08:00 UTC SESSION OUTLOOK PMI data opens London. Watch if Composite beats expectations—could spike through 1.17 resistance. Overbought RSI may cap initial momentum.

Key Levels

R: 1.17000 · 1.17109 · 1.17500

S: 1.16500 · 1.16000 · 1.15018