Economic Calendar
Volatility should be anticipated amid multiple data releases from both U.K. and United States.
GBP/USD hourly chart analysis
If volatility increases in the coming sessions, the current sideways trading range between 1.35400 and 1.36000 may be broken. This range has acted as a consolidation zone, with price repeatedly testing both the upper and lower boundaries without establishing a clear trend.
Should a directional move emerge—driven by either technical momentum or fundamental catalysts such as economic data—the pair could break out of this range decisively. In such a range expansion scenario, the next likely price targets would be 1.34500 on the downside and 1.36500 on the upside, depending on the direction of the breakout.
Hourly Chart
GBP/USD daily candle chart analysis
Long-term bullishness could move the FX pair towards the 1.38000 price level once the 1.34300 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.Read More: Technical Analysis
Traders are short
Continuing previous week trends majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.