GU Rebounds Impressively, but the Uptrend Isn’t “Locked In” Yet
Hello everyone, the recovery of GBPUSD in today’s session is offering several positive signals, but confirming a new bullish trend still requires more solid evidence. After a strong bounce from the 1.3150–1.3170 FVG — which aligns with the bottom of the Ichimoku cloud — the pound is showing that short-term demand remains intact and buyers have not stepped aside.
The news landscape is also favouring GBP, with UK manufacturing PMI outperforming expectations, while the USD lacks momentum as markets continue pricing in the possibility of a mild Fed pivot at the end-month meeting. US yields moving sideways and the DXY staying capped below 100 further support the recovery in major currency pairs, with GBPUSD among the biggest beneficiaries.
Even so, the upward move still faces an important test. Price is approaching 1.3235–1.3250 — an area stacked with old FVGs and the stopping point of last week’s rally. This region has historically attracted strong seller activity, meaning the reaction here will determine whether this rebound is merely technical or the start of a more sustainable bullish trend.
The news landscape is also favouring GBP, with UK manufacturing PMI outperforming expectations, while the USD lacks momentum as markets continue pricing in the possibility of a mild Fed pivot at the end-month meeting. US yields moving sideways and the DXY staying capped below 100 further support the recovery in major currency pairs, with GBPUSD among the biggest beneficiaries.
Even so, the upward move still faces an important test. Price is approaching 1.3235–1.3250 — an area stacked with old FVGs and the stopping point of last week’s rally. This region has historically attracted strong seller activity, meaning the reaction here will determine whether this rebound is merely technical or the start of a more sustainable bullish trend.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.