GBPUSD London briefing — 2026-07-31

BIAS NEUTRAL — RSI overbought (70.77) conflicts with H1 bullish EMA; D1 structure lacks conviction. Divergent timeframes signal caution despite uptrend. KEY LEVELS R: 1.35, 1.355, 1.35583 | S: 1.345, 1.34, 1.32733 NEWS 🟡 Employment Cost Index (USD) 12:30 UTC 🟡 Chicago PMI (USD) 13:45 UTC 🟡 Michigan Consumer Expectations (USD) 14:00 UTC SESSION OUTLOOK Three medium-impact USD releases could trigger sharp moves. Watch 1.35 resistance; overbought conditions favor pullbacks into support zones.

Key Levels

R: 1.35000 · 1.35500 · 1.35583

S: 1.34500 · 1.34000 · 1.32733