USDCHF London briefing — 2026-11-04

BIAS BEARISH. Trend vote (D1 + EMA H4 + EMA H1) and H4/H1 fair value gaps drive downside; liquidity sweep of lows adds countertrend context but subordinate to aligned EMA structure. KEY LEVELS R: 0.82, 0.825, 0.83953 | S: 0.815, 0.81288, 0.81 NEWS 🔴 ADP Employment Change (Wed 13:15 UTC) 🟡 MBA Mortgage Applications (Wed 12:00 UTC) 🟡 Goods & Services Trade Balance (Wed 13:30 UTC) SESSION OUTLOOK ADP release drives USD volatility mid-session. Watch for breakdown toward support on continuation; sweep lows may trigger false breaks before resuming lower.

Key Levels

R: 0.82000 · 0.82500 · 0.83953

S: 0.81500 · 0.81288 · 0.81000