GBPUSD London briefing — 2026-08-05

BIAS BULLISH. H4/H1 EMAs aligned bullish, D1 structure intact, RSI neutral (55.85) avoids overbought extremes. KEY LEVELS R: 1.35065, 1.355 | S: 1.345, 1.34, 1.32733 NEWS 🟡 S&P Global Composite PMI (GBP) 08:30 UTC 🟡 S&P Global Services PMI (GBP) 08:30 UTC 🟡 MBA Mortgage Applications (USD) 11:00 UTC SESSION OUTLOOK UK PMI data at London open sets tone; weak prints risk momentum pause. Watch price action near 1.35 resistance for conviction.

Key Levels

R: 1.35000 · 1.35065 · 1.35500

S: 1.34500 · 1.34000 · 1.32733