GBPUSD London briefing — 2026-07-16

BIAS BULLISH — H1/H4 EMAs aligned bullish, D1 structure confirms uptrend, but RSI 76.43 signals overbought conditions; pullback risk before continuation. KEY LEVELS R: 1.355, 1.35583, 1.36 | S: 1.35, 1.345, 1.31914 NEWS 🟡 Bond Auction (GBP) 09:30 UTC | 🟡 NIESR GDP (GBP) 11:00 UTC | 🟡 Jobless Claims (USD) 12:30 UTC SESSION OUTLOOK Watch for minor pullback into support as overbought RSI cools. Bond auction and GDP data may spark volatility; USD jobless claims secondary focus for GBP directional bias. PRO UNLOCKS Entry zones, SL placement, TP1/TP2, FVG

Key Levels

R: 1.35500 · 1.35583 · 1.36000

S: 1.35000 · 1.34500 · 1.31914