GBPUSD OUTLOOK – IS THE BULLISH CHANNEL NEARING EXHAUSTION OR JUST GEARING UP?
📊 Macro Overview:
The USD continues to soften slightly as markets begin pricing in a potential rate cut by the Fed later in Q3. Meanwhile, the British Pound (GBP) is holding firm, supported by stronger-than-expected UK macroeconomic data—particularly retail sales and inflation figures.
However, UK fiscal concerns remain a headwind, and GBPUSD is highly sensitive to upcoming U.S. data—especially Core PCE and employment figures this week.
📉 Technical Analysis:
On the 1H chart, GBPUSD is moving within a broad ascending channel and is now approaching the upper resistance trendline at 1.3555 – a key zone that could trigger short-term profit-taking.
EMAs 13 and 34 are still in bullish alignment, supporting ongoing momentum.
Despite the bullish setup, current candle structure suggests a potential pullback to the 1.3448 support zone before a continuation higher—if buyers regain control.
🔑 Key Price Levels:
Resistance Zones:
🔸 1.3555 – Channel top resistance
🔸 1.3586 – Extended resistance zone
Support Zones:
🔹 1.3448 – Technical and Fibo confluence
🔹 1.3398 – Major structure support in case of breakdown
🛠️ Trade Scenarios:
✅ Scenario 1: BUY on retracement
Entry: 1.3448 (watch for bullish confirmation on H1)
Stop Loss: 1.3394
Take Profit: 1.3500 → 1.3555 → 1.3585
✅ Scenario 2: SELL scalp from resistance
Entry: 1.3555
Stop Loss: 1.3588
Take Profit: 1.3500 → 1.3460
🧠 Final Thoughts:
GBPUSD remains bullish in structure but is testing key resistance levels. A clean pullback to the 1.3448 region may provide a strong buying opportunity if confirmed by price action. If this level breaks, bearish divergence could kick in and push the pair back to deeper support zones. Stay alert for high-impact economic releases and trade with solid risk management!
📊 Macro Overview:
The USD continues to soften slightly as markets begin pricing in a potential rate cut by the Fed later in Q3. Meanwhile, the British Pound (GBP) is holding firm, supported by stronger-than-expected UK macroeconomic data—particularly retail sales and inflation figures.
However, UK fiscal concerns remain a headwind, and GBPUSD is highly sensitive to upcoming U.S. data—especially Core PCE and employment figures this week.
📉 Technical Analysis:
On the 1H chart, GBPUSD is moving within a broad ascending channel and is now approaching the upper resistance trendline at 1.3555 – a key zone that could trigger short-term profit-taking.
EMAs 13 and 34 are still in bullish alignment, supporting ongoing momentum.
Despite the bullish setup, current candle structure suggests a potential pullback to the 1.3448 support zone before a continuation higher—if buyers regain control.
🔑 Key Price Levels:
Resistance Zones:
🔸 1.3555 – Channel top resistance
🔸 1.3586 – Extended resistance zone
Support Zones:
🔹 1.3448 – Technical and Fibo confluence
🔹 1.3398 – Major structure support in case of breakdown
🛠️ Trade Scenarios:
✅ Scenario 1: BUY on retracement
Entry: 1.3448 (watch for bullish confirmation on H1)
Stop Loss: 1.3394
Take Profit: 1.3500 → 1.3555 → 1.3585
✅ Scenario 2: SELL scalp from resistance
Entry: 1.3555
Stop Loss: 1.3588
Take Profit: 1.3500 → 1.3460
🧠 Final Thoughts:
GBPUSD remains bullish in structure but is testing key resistance levels. A clean pullback to the 1.3448 region may provide a strong buying opportunity if confirmed by price action. If this level breaks, bearish divergence could kick in and push the pair back to deeper support zones. Stay alert for high-impact economic releases and trade with solid risk management!
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals Vip
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.