GBPAUD London briefing — 2026-09-23

BIAS BEARISH. D1 + H4 + H1 EMA all aligned bearish; H4 and H1 fair value gaps reinforce downside. KEY LEVELS R: 1.88, 1.885, 1.89509 | S: 1.875, 1.8731, 1.87 NEWS 🔴 S&P Global Composite PMI (GBP) – 08:30 UTC 🔴 S&P Global Manufacturing PMI (GBP) – 08:30 UTC 🔴 S&P Global Services PMI (GBP) – 08:30 UTC SESSION OUTLOOK UK PMIs at London open will set volatility tone. Watch initial reaction at 1.88 resistance; breaks below 1.875 confirm bearish structure continuation.

Key Levels

R: 1.88000 · 1.88500 · 1.89509

S: 1.87500 · 1.87310 · 1.87000