GBPUSD London briefing — 2026-05-20

BIAS BEARISH. D1 structure confirms downside; H4 EMA bearish supports, RSI neutral lacks upside conviction. KEY LEVELS R: 1.345, 1.34 | S: 1.33039, 1.335 NEWS 🟡 DCLG House Price Index 08:30 UTC 🟡 MBA Mortgage Apps 11:00 UTC 🟡 EIA Crude Oil Stocks 14:30 UTC SESSION OUTLOOK London opens with weak UK data expected. Watch support hold at 1.33039; breaks signal deeper losses toward 1.33. PRO UNLOCKS Entry 1.3395→SL 1.346→TP1 1.335→TP2 1.33039 | FVG 1.342-1.3405 | Liquidity sweep 1.345 | Fib 38.2%

Key Levels

R: 1.34000 · 1.34500 · 1.36575

S: 1.33500 · 1.33039 · 1.33000