GBPUSD London briefing — 2026-07-02

BIAS BEARISH. RSI overbought at 72.13 with H1 bullish diverging from neutral H4—classic exhaustion setup into resistance. KEY LEVELS R: 1.335, 1.34, 1.34614 | S: 1.33, 1.325, 1.31416 NEWS 🔴 Average Hourly Earnings (MoM/YoY) USD – 12:30 UTC 🟡 BoE Credit Conditions Survey – 08:30 UTC SESSION OUTLOOK US wage data at London close triggers volatility. Watch rejection at 1.335 for short confirmation or break above for reversal trap. PRO UNLOCKS Entry at fib retracement off latest swing, SL above overbought print, TP cascade via 1.325→1.31416 support—unlock with Pro.

Key Levels

R: 1.33500 · 1.34000 · 1.34614

S: 1.33000 · 1.32500 · 1.31416