London Session EUR/USD Pre-Market Analysis: Key Levels to Watch

The EUR/USD is approaching a critical resistance cluster at 1.0850 as London traders prepare to step in. Asian session left a tight consolidation between 1.0810–1.0830, building liquidity on both sides. The 1.0850 level aligns with last week's high and the 50% Fibonacci retracement from the April swing — a confluence zone where we often see the first decisive move of the day. Watch for a false break above 1.0850 followed by a sharp reversal if USD buyers step in, or a clean hold above that turns into a London continuation play targeting 1.0880–1.0900. Key levels: • Support: 1.0810 (Asian low), 1.0790 (previous day close) • Resistance: 1.0850 (confluence), 1.0880 (weekly level) What's your bias for today's London open — long or short above/below the Asian range?