USDCAD London briefing — 2026-10-22

BIAS BEARISH. Trend vote (D1+H4+H1), H4/H1 fair value gaps, and oversold RSI(14) at 28.07 drive direction; liquidity sweep of lows presents pullback risk within the downtrend. KEY LEVELS R: 1.405, 1.41, 1.43015 | S: 1.40231, 1.4, 1.395 NEWS 🟡 Employment Insurance Beneficiaries, Industrial Product Price, New Housing Price Index (CAD) Thu 12:30 UTC—low impact. SESSION OUTLOOK London opens into oversold conditions with bearish FVG structure intact. Watch if sweep lows hold or trigger mean-reversion relief into resistance.

Key Levels

R: 1.40500 · 1.41000 · 1.43015

S: 1.40231 · 1.40000 · 1.39500