Economic Calendar
GBP/USD hourly chart analysis
The short-term price trading range provides a window of opportunity for a potential upside move towards 1.34400, should bullish momentum materialize. This scenario is supported by key technical factors, such as the prevailing trend and price action holding above important support levels. If market sentiment turns positive, fueled by favorable economic data or market developments, the pair breaks through resistance levels and heads towards the 1.34400 mark.
The relative strength index (RSI) and moving averages signal possible bullish momentum, suggesting that a further price rally unfolds if buying pressure persists. Traders monitor shifts in market sentiment or significant news events that could either fuel or halt this upward movement.
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.