EURUSD London briefing — 2026-10-23

BIAS BEARISH. D1 trend + H4 EMA + H1 EMA combined weighted vote, reinforced by H1 fair value gap bearish structure. KEY LEVELS R: 1.125, 1.13, 1.13947 | S: 1.12, 1.115, 1.1114 NEWS 🔴 HCOB Composite/Manufacturing/Services PMI (EUR) Fri 23 Oct 08:00 UTC SESSION OUTLOOK High-impact eurozone PMI data precedes London open; watch for volatility into 1.125 resistance. H4 bullish FVGs create pullback zones despite bearish H1 structure.

Key Levels

R: 1.12500 · 1.13000 · 1.13947

S: 1.12000 · 1.11500 · 1.11140