📊 Technical Structure
GBP/USD has extended into a modest two-day rebound, reclaiming the 1.34 handle after last week’s sharp decline. However, the price is now testing a defined Resistance Zone at 1.3449–1.3460, which aligns with prior supply and bearish rejection areas. The broader trend remains bearish, with lower highs and lower lows visible on the 4H chart. If this resistance holds, momentum may shift back to the downside, targeting the Support Zone near 1.3328–1.3316.
🎯 Trade Setup
Entry: 1.3445–1.3460 (Resistance Zone)
Stop Loss: 1.3472 (above resistance rejection)
Take Profit: 1.3329 (Support Zone)
Risk/Reward: ~1 : 4.97
🌍 Macro Background
Sterling’s latest recovery comes on the back of softer USD flows as government shutdown risks weigh on the Dollar. Still, the underlying fundamentals remain fragile: the UK’s Q2 GDP growth is expected at just 0.3% QoQ and 1.2% YoY, pointing to sluggish momentum. Meanwhile, looming US Nonfarm Payrolls (NFP) later this week – assuming the release is not delayed by the shutdown – could spark volatility. A stronger-than-expected NFP would likely revive USD demand and pressure GBP/USD lower, reinforcing the short bias from resistance.
🔑 Key Technical Levels
Resistance Zone: 1.3449–1.3460
Support Zone: 1.3328–1.3316
Intermediate Level: 1.3400 (psychological handle)
📝 Trade Summary
GBP/USD is staging a temporary rebound, but the technical rejection zone near 1.3450 offers a short-selling opportunity with a favourable risk-reward setup. With US macro data still supportive of the Dollar and UK growth momentum weak, rallies are likely to be capped, favouring downside continuation toward 1.3328.
⚠️ Disclaimer
This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.
GBP/USD has extended into a modest two-day rebound, reclaiming the 1.34 handle after last week’s sharp decline. However, the price is now testing a defined Resistance Zone at 1.3449–1.3460, which aligns with prior supply and bearish rejection areas. The broader trend remains bearish, with lower highs and lower lows visible on the 4H chart. If this resistance holds, momentum may shift back to the downside, targeting the Support Zone near 1.3328–1.3316.
🎯 Trade Setup
Entry: 1.3445–1.3460 (Resistance Zone)
Stop Loss: 1.3472 (above resistance rejection)
Take Profit: 1.3329 (Support Zone)
Risk/Reward: ~1 : 4.97
🌍 Macro Background
Sterling’s latest recovery comes on the back of softer USD flows as government shutdown risks weigh on the Dollar. Still, the underlying fundamentals remain fragile: the UK’s Q2 GDP growth is expected at just 0.3% QoQ and 1.2% YoY, pointing to sluggish momentum. Meanwhile, looming US Nonfarm Payrolls (NFP) later this week – assuming the release is not delayed by the shutdown – could spark volatility. A stronger-than-expected NFP would likely revive USD demand and pressure GBP/USD lower, reinforcing the short bias from resistance.
🔑 Key Technical Levels
Resistance Zone: 1.3449–1.3460
Support Zone: 1.3328–1.3316
Intermediate Level: 1.3400 (psychological handle)
📝 Trade Summary
GBP/USD is staging a temporary rebound, but the technical rejection zone near 1.3450 offers a short-selling opportunity with a favourable risk-reward setup. With US macro data still supportive of the Dollar and UK growth momentum weak, rallies are likely to be capped, favouring downside continuation toward 1.3328.
⚠️ Disclaimer
This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.