GBPUSD London briefing — 2026-09-02

BIAS BEARISH. D1 structure confirms downtrend; H1 EMA bearish despite H4 neutrality. RSI oversold at 29.63 adds reversal risk but doesn't invalidate the macro bias. KEY LEVELS R: 1.355, 1.36, 1.36752 | S: 1.35, 1.34834, 1.345 NEWS 🔴 ADP Employment Change (Wed 12:15 UTC) | 🟡 Factory Orders MoM (Wed 14:00 UTC) | 🟡 MBA Mortgage Apps (Wed 11:00 UTC) SESSION OUTLOOK ADP and Factory Orders risk USD strength into London close. Watch 1.35 hold; break below 1.34834 accelerates bearish structure.

Key Levels

R: 1.35500 · 1.36000 · 1.36752

S: 1.35000 · 1.34834 · 1.34500