GBPUSD London briefing — 2026-10-23

BIAS BULLISH. Daily structure, H4 EMA, and H1 EMA alignment combined with bullish H4 fair value gaps drive directional bias despite bearish H1 FVGs and neutral RSI. KEY LEVELS R: 1.34198, 1.345 | S: 1.335, 1.33, 1.31382 NEWS 🔴 S&P Global Composite PMI (GBP) — Fri 08:30 UTC 🔴 S&P Global Manufacturing PMI (GBP) — Fri 08:30 UTC 🔴 S&P Global Services PMI (GBP) — Fri 08:30 UTC SESSION OUTLOOK PMI data releases at London open define intraday volatility. Watch price reaction at 1.34 resistance; bullish structure supports continuation if data prints firm.

Key Levels

R: 1.34000 · 1.34198 · 1.34500

S: 1.33500 · 1.33000 · 1.31382