GBPUSD London briefing — 2026-05-05

BIAS BEARISH. D1 structure dominates hierarchy; RSI 44.2 shows downside momentum despite H4/H1 neutrality. KEY LEVELS R: 1.36575, 1.36, 1.355 | S: 1.35, 1.34512, 1.345 NEWS 🟡 Goods/Services Trade Balance (USD) — 12:30 UTC 🟡 Goods Trade Balance (USD) — 12:30 UTC 🟡 Redbook Index YoY (USD) — 12:55 UTC SESSION OUTLOOK US data risks weakness in GBP on soft retail prints. Watch 1.355 rejection; break below 1.35 accelerates bearish structure. PRO UNLOCKS Entry 1.3515, SL 1.3575, TP1 1.3450, TP2 1.3401,

Key Levels

R: 1.35500 · 1.36000 · 1.36575

S: 1.35000 · 1.34512 · 1.34500