Economic Calendar
Elevated levels of volatility may be considered the primary scenario, driven by BoE rate cut pricing and the Middle East conflict.
GBP/USD hourly chart analysis
GBP/USD is showing a strong bearish bias after breaking down from its recent consolidation between 1.3450 and 1.3536. The price is trading well below the 50, 100, and 200 SMAs, with the 50 SMA crossing below the longer-term averages, a classic short-term bearish signal. Immediate resistance is now around 1.3450, followed by 1.3490, while the next support levels are 1.3296 and the psychological 1.3200. Recent price action shows small bounces near 1.3350, but unless the pair can reclaim 1.3450, these are likely to be sold into, suggesting the bearish trend may continue.
Hourly Chart
GBP/USD daily candle chart analysis
GBP/USD pair is at a crucial turning point. After a strong rally in early 2026, the pound is now under heavy selling pressure. It peaked near 1.3800 in late January and has since formed lower highs. Today's sharp drop has broken through short-term support, and price is now testing the 1.3400- 1.3430 zone, which acted as resistance in late 2025 and is now trying to hold as support.Read More: Technical Analysis
Traders are long
GBP/USD, traders are predominantly long, with 65.92% holding long positions. The sentiment shows a positive change of +31.84%, indicating growing confidence or bullishness in the pair. Conversely, only 34.08% of traders are short, suggesting a relatively smaller bearish outlook on GBP/USD at this time