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GBP/USD Technical Analysis
The British pound posted a notable rally against the US dollar during early trading, reaching a high of 1.3522.
Technical Outlook – 4-Hour Timeframe:
The pair successfully penetrated the 1.3480 resistance level, supported by positive momentum from the simple moving averages. Price action is also trading along an ascending trend line, further reinforcing the bullish trajectory.
Bullish Scenario: As long as price remains above the key support levels of 1.3450 and more critically 1.3430, the uptrend is likely to persist, with the next target at 1.3565.
Bearish Scenario: A break below 1.3425 would signal a resumption of the downtrend, with an initial target of 1.3330.
Risk Considerations:
High-impact economic data from the US is expected today, specifically the Producer Price Index (PPI). Significant price volatility is anticipated around the data release.
The current risk environment remains elevated amid ongoing trade and geopolitical tensions. Multiple scenarios remain possible, and investors should exercise appropriate caution.
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: 1.3425 | R1: 1.3565 |
| S2: 1.3330 | R2: 1.3615 |
| S3: 1.3280 | R3: 1.3710 |
