EURUSD London briefing — 2026-10-16

BIAS BULLISH. H4 and H1 fair value gaps align upward despite bearish D1 structure and neutral trend vote; RSI neutral supports continuation without overextension. KEY LEVELS R: 1.125, 1.13, 1.14956 | S: 1.12, 1.115, 1.1114 NEWS 🟡 Core CPI MoM/YoY (EUR) – 09:00 UTC 🟡 CPI MoM (EUR) – 09:00 UTC SESSION OUTLOOK CPI prints could spark volatility around 1.125 resistance. Watch H1 rejection patterns at support levels; gaps suggest buyers defending 1.12 zone.

Key Levels

R: 1.12500 · 1.13000 · 1.14956

S: 1.12000 · 1.11500 · 1.11140