GBPUSD London briefing — 2026-09-25

BIAS BEARISH. Daily structure, H4 and H1 EMAs aligned downward; H4 and H1 fair value gaps confirm selling pressure. KEY LEVELS R: 1.325, 1.33, 1.35682 | S: 1.32048, 1.32, 1.315 NEWS 🟡 Fed Williams speech (09:15 UTC) 🟡 Durable Goods Orders (12:30 UTC) 🟡 Durable Goods ex Defense (12:30 UTC) SESSION OUTLOOK Watch for USD strength via Fed speakers and durable goods data. Bearish setup targets lower support; resistance cluster at 1.325–1.33 contains rallies.

Key Levels

R: 1.32500 · 1.33000 · 1.35682

S: 1.32048 · 1.32000 · 1.31500