Economic Calendar
Continuing previous week, elevated levels of volatility may be anticipated due to fundamental news that will be presented from U.K. and U.S.
GBP/USD hourly chart analysis
The FX pair appears poised for potential bullish momentum, especially if the directional bias aligns with upward movement and the key resistance level at 1.34450 is decisively broken. A clear break above this level could signal further gains and attract additional buying interest, potentially setting the stage for a continued uptrend.
Conversely, if bearish sentiment takes hold, the pair may face downward pressure, with the 1.31200 support level likely to be tested. A breach of this support could indicate further downside risk, potentially leading to increased selling momentum and a deeper correction. Traders should closely monitor price action around these critical levels for confirmation of directional bias.
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.