The London session (Europe open · the liquidity hour) · updated 2026-09-11 08:00 UTC.
London Session Prep — 08:00–12:00 UTC
The drumbeat hasn't changed: oil is still north of $100 and still dragging equities lower, Treasury yields keep surging after that poor 30-year auction, and the ECB's hawkish hike has markets pricing a near 50-50 chance of another move in October. Continuity, not reversal — risk-off and oil's bid both carried through the night.
London's calendar is light on paper — Italy's unemployment rate, UK consumer inflation expectations, and SNB Chairman Schlegel speaking — but the UK data is the main event, and sterling arrives leaning bearish (H1 RSI 35.4, EMA20 below EMA50) into numbers that land on a market already pointed down.
The gauge for the session: oil is bullish strong across D1/H4/H1, H4 RSI 75.0 — stretched, with no tested ceiling above and its floor way down at 89.62. Gold is bearish clear and squeezed between 4,310.04 support and 4,327.74 resistance, so a breakout is on the table, direction unknown. EUR/USD leans bearish near 1.16060, GBP/USD sits evenly balanced between 1.34868 and 1.35020, and USD/JPY is neutral but low in its range with room overhead. Let the UK data and the oil tape do the talking.
11 Sep 08:00 UTCEUR Low
11 Sep 08:30 UTCGBP Low
11 Sep 09:15 UTCCHF Medium