Economic Calendar
Moderate volatility levels may be anticipated may be expected due to upcoming data releases from United States and United Kingdom.
GBP/USD hourly chart analysis
GBP USD pair is exhibiting a short-term bullish trend as the price is trading above the rising 50, 100 and 200 Simple Moving Averages. The pair is currently consolidating near 1.33795 effectively finding support along the green 50 SMA following a minor pullback from recent highs. Immediate downside protection is provided by the orange 100 SMA near 1.33564 and the red 200 SMA near 1.33420 which acts as the major trend floor. If the price maintains its footing above these averages the technical outlook favors a move back up toward the resistance level at 1.34350 whereas a break below 1.33420 would signal a potential trend reversal toward 1.33100.
Hourly Chart
GBP/USD daily candle chart analysis
GBP/USD is trading at 1.34401, showing a neutral to bullish tone after recovering from lows near 1.3000 in late 2025. The price is just above key moving averages: well above the 50-day SMA at 1.32737, testing the 100-day SMA at 1.33862 as support, and sitting right on the critical 200-day SMA at 1.34300, making this a crucial zone for long-term bullishness. The moving averages are converging, suggesting a potential high-volatility breakout, possibly a Golden Cross if the price holds above 1.3440. Key levels to watch include resistance at 1.3500, a recent high, and major resistance at 1.3620, while support lies at 1.3430 pivot, 1.3270 near the 50-day SMA, and a strong floor near 1.3000. A daily close above 1.3500 would confirm bullish continuation, targeting 1.3620, whereas a drop below 1.3400 could trigger a deeper pullback to 1.3270.Read More: Technical Analysis
Traders are short
The sentiment for GBP/USD shows that only about 26% of traders are long, while a strong 74% are short, indicating a predominantly bearish trader positioning. This suggests many traders expect the pair to weaken in the near term, despite any short-term rallies. The high short interest may reflect caution or skepticism about GBP/USD's ability to sustain gains.