The London session (Europe open · the liquidity hour) · updated 2026-09-25 08:00 UTC.
Good morning. The dollar bid from the previous session hasn't clocked out — EUR/USD (1.14691) and GBP/USD (1.33731) remain pinned low in their ranges, USD/JPY (157.482) still leans bullish, and gold (4342.88) is still boxed between 4333.73 and 4359.91. The tilt gauge reads EUR/USD neutral, GBP/USD neutral, USD/JPY bullish-leaning, and gold's higher-timeframe read stays bearish.
The calendar stays light in this window. Euro-area M3 money supply and private loans are low-tier, but BOE Governor Bailey speaks (high impact) and FOMC's Williams is on the docket too. Japan remains out for a bank holiday, so yen liquidity stays thin — worth remembering if USD/JPY makes a run at anything.
On the barometer, the stretched pairs are still stretched. EUR/USD sits neutral (H4 RSI 39.4, floor 1.14623 just below), GBP/USD neutral (H4 RSI 40.9), and USD/JPY leaning bullish (H4 RSI 66.2). Watch whether the dollar bid extends or those pairs finally breathe — and whether thin holiday liquidity gives it a reason either way.
25 Sep 08:00 UTCEUR Low
25 Sep 08:00 UTCEUR Low
25 Sep 09:15 UTCGBP High
25 Sep 09:15 UTCUSD Low