USDCHF London briefing — 2026-10-23

BIAS BEARISH. Trend vote (D1+H4+H1 EMA combined) + H4/H1 fair value gaps override the liquidity sweep of lows. KEY LEVELS R: 0.825, 0.83, 0.83953 | S: 0.82, 0.81906, 0.815 NEWS 🔴 S&P Global Manufacturing PMI (USD) — Fri 13:45 UTC 🔴 S&P Global Services PMI (USD) — Fri 13:45 UTC 🟡 S&P Global Composite PMI (USD) — Fri 13:45 UTC SESSION OUTLOOK PMI data critical; strong USD readings could spark bullish reversal despite bearish setup. Watch 0.825 resistance rejection.

Key Levels

R: 0.82500 · 0.83000 · 0.83953

S: 0.82000 · 0.81906 · 0.81500