GBPUSD London briefing — 2026-05-06

BIAS BULLISH. H4 and H1EMAs aligned upward; D1 neutral broken by higher timeframe structure. KEY LEVELS R: 1.365, 1.36575 | S: 1.355, 1.35 NEWS 🟡 S&P Global Composite PMI (GBP) 08:30 UTC 🟡 S&P Global Services PMI (GBP) 08:30 UTC 🟡 MBA Mortgage Applications (USD) 11:00 UTC SESSION OUTLOOK London open tests resistance 1.365. PMI data drives early volatility; weak readings risk pullback to 1.355. PRO UNLOCKS Entry 1.3615 | SL 1.3525 | TP1 1.3675 | TP2 1.3725 | FVG 1.357–1.361 | Liquidity

Key Levels

R: 1.36000 · 1.36500 · 1.36575

S: 1.35500 · 1.35000 · 1.34512