USDCHF London briefing — 2026-10-26

BIAS BEARISH. D1 structure, H4 EMA trend, and H4 fair value gaps align downside; H1 bullish FVG offers minor resistance to the move. KEY LEVELS R: 0.83, 0.835, 0.83953 | S: 0.825, 0.82, 0.81906 NEWS 🟡 Chicago Fed National Activity Index (USD) 12:30 UTC 🟡 3-Month Bill Auction (USD) 15:30 UTC 🟡 6-Month Bill Auction (USD) 15:30 UTC SESSION OUTLOOK Watch support holds at 0.825 as liquidity tests lower structure. Minor USD data may stabilize but unlikely to reverse bearish trend conviction.

Key Levels

R: 0.83000 · 0.83500 · 0.83953

S: 0.82500 · 0.82000 · 0.81906