Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/USD has shifted back to positive price action after concluding the prior downswing, with buyers reasserting control in the near term.
Technical:
Momentum is improving as the RSI turns higher, signaling additional upside impulse. On the 4-hour chart, price is trading above the 50-period SMA, which has flipped to dynamic support and is helping underpin the advance.
Base case:
With a clean break above the near-term trend structure, the pair has scope to extend toward 1.3470, with 1.3520 the next resistance if follow-through buying persists.
Alternative:
A decisive move back below 1.3345 would negate the immediate bullish tone and reintroduce downside pressure, exposing 1.3265.
Risk:
Event headlines and geopolitics can trigger abrupt swings. Consider disciplined sizing and clear invalidation levels; conditions may not suit all risk profiles.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3345 | R1: 1.3470 |
| S2: 1.3265 | R2: 1.3520 |
| S3: 1.3215 | R3: 1.3590 |
