Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The GBP/USD pair remains in an upward trend, extending gains after testing a fresh high of 1.3648.
From a technical outlook on the 4-hour chart, price action shows a slight pullback, as the pair consolidates below the key resistance level of 1.3630. The simple moving averages continue to provide reliable support, and positive momentum indicators suggest the trend may resume.
The bullish scenario remains valid for today. A decisive breakout above 1.3630 could pave the way for gains toward 1.3670 as the initial target, followed by 1.3720 as a secondary objective.
However, traders should note that a daily close below 1.3540 could invalidate the bullish bias and expose the pair to a downside move targeting 1.3470.
Market Alert: The release of high-impact U.S. economic data—including Federal Reserve Chair Jerome Powell’s testimony—could trigger elevated volatility.
Risk Reminder: Ongoing trade and geopolitical tensions keep risk levels high, so traders should be prepared for multiple market outcomes.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
| S1: |