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GBP/USD maintains a bullish bias, with the broader trend and structure supporting upside continuation. The recent intraday move appears to be a bullish breakout toward a key prior consolidation area.
Key Support: 1.3014 – aligns with the previous consolidation zone and potential bullish inflection point.
Upside Targets:
1.3255 – initial resistance level
1.3328 and 1.3418 – medium to long-term bullish targets
If price finds support at 1.3014 and forms a bullish reversal, it would confirm the continuation of the uptrend toward the mentioned resistance levels.
However, a break and daily close below 1.3014 would invalidate the bullish scenario, suggesting deeper retracement toward 1.2980, with further support at 1.2900 and 1.2815.
Conclusion
GBP/USD remains bullish above 1.3014. Look for a bounce from this level to confirm upside continuation. A daily close below 1.3014 would turn the outlook bearish, exposing lower support levels.
GBP/USD maintains a bullish bias, with the broader trend and structure supporting upside continuation. The recent intraday move appears to be a bullish breakout toward a key prior consolidation area.
Key Support: 1.3014 – aligns with the previous consolidation zone and potential bullish inflection point.
Upside Targets:
1.3255 – initial resistance level
1.3328 and 1.3418 – medium to long-term bullish targets
If price finds support at 1.3014 and forms a bullish reversal, it would confirm the continuation of the uptrend toward the mentioned resistance levels.
However, a break and daily close below 1.3014 would invalidate the bullish scenario, suggesting deeper retracement toward 1.2980, with further support at 1.2900 and 1.2815.
Conclusion
GBP/USD remains bullish above 1.3014. Look for a bounce from this level to confirm upside continuation. A daily close below 1.3014 would turn the outlook bearish, exposing lower support levels.
Trade active
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.