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GBP/USD Technical Analysis
Positive momentum has returned to the GBP/USD pair across intraday trading, with the pair successfully clawing back a portion of its previous losses on the back of an improvement in buying momentum.
Technical Outlook – 4-Hour Timeframe:
Within the intraday landscape, the simple moving averages continue to function as dynamic support, providing ongoing support beneath the price and contributing to the probability of further upside movement across the current period.
Meanwhile, the Relative Strength Index (RSI) is broadcasting clear positive signals, mirroring the improvement in bullish momentum. This dynamic coincides with the price consolidating around an ascending trendline — a configuration that lends further weight to the continuation of the constructive short-term outlook.
Expected Scenarios:
Bullish (Most Likely) Scenario:
As long as trading remains anchored above the 1.3420 support floor, the bullish bias will retain the upper hand, with 1.3500 set as the initial objective. A decisive break above this level would pave the way for further gains targeting 1.3530 as the subsequent target.
Bearish Scenario:
Conversely, a decisive breakdown beneath the 1.3420 support would bring selling pressure back to the forefront, with 1.3375 emerging as the initial downside objective, followed by 1.3340 as the next level.
Risk Alert: Risk levels remain elevated amid persistent trade frictions and geopolitical tensions — all scenarios should be considered plausible.
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: 1.3420 | R1: 1.3500 |
| S2: 1.3375 | R2: 1.3530 |
| S3: 1.3340 | R3: 1.3570 |
