Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The GBP/USD pair continues to trade under pressure on the intraday level, moving lower as it approaches the key psychological resistance at 1.3500.
Technical Outlook – 4-hour timeframe:
The Relative Strength Index (RSI) continues to issue negative signals, reflecting persistent bearish momentum on short-term timeframes. Meanwhile, the 50-day Simple Moving Average (SMA) remains positioned above the current price, acting as a dynamic resistance that continues to weigh on the pair.
Likely Scenario:
The 1.3500 psychological resistance remains a critical level for determining intraday direction. As long as the price holds below this barrier, the bearish bias is likely to prevail. A confirmed break below 1.3420 would reinforce selling pressure, potentially extending losses toward 1.3390 and then 1.3350.
Conversely, a decisive break above 1.3500 could shift sentiment in favor of the bulls, opening the way for an upward move toward the next resistance at 1.3545.
Warning: The risk level remains high amid persistent trade and geopolitical uncertainties, and all scenarios are possible.
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: 1.3480 |
| S2: 1.3390 | R2: 1.3515 |
| S3: 1.3350 | R3: 1.3545 |
