GBPUSD London briefing — 2026-05-07

BIAS BEARISH. D1 structure dominates despite H4/H1 bullish EMA alignment; RSI neutral at 61 lacks conviction. KEY LEVELS R: 1.365, 1.36575, 1.37 | S: 1.36, 1.355, 1.34512 NEWS 🟡 S&P Global Construction PMI (GBP) 08:30 UTC 🟡 Challenger Job Cuts (USD) 11:30 UTC 🟡 Continuing Jobless Claims (USD) 12:30 UTC SESSION OUTLOOK Medium-impact USD data may spark volatility. Watch rejection at 1.365 resistance; breach of 1.36 support signals downside continuation. PRO UNLOCKS [Entry 1.3605 | SL 1.3675 | TP1 1.355 | TP2 1.3

Key Levels

R: 1.36500 · 1.36575 · 1.37000

S: 1.36000 · 1.35500 · 1.34512