GBPUSD has staged a strong recovery from the recent low, with price now pressing into a major resistance zone. The advance is supported by a clear series of higher lows and a rising trendline, showing that buyers are still willing to step in on dips.
The current area is the key test. A clean break and close above resistance would signal that buying pressure is strong enough to absorb the remaining supply. However, chasing the first breakout candle is rarely ideal; price may briefly pull back to test the broken zone or the rising trendline before continuing.
That retest is where confirmation matters most. If sellers fail to force price back below the breakout level and buyers respond with a strong bullish rejection, the former resistance will have turned into support. That would strengthen the case for the next expansion higher.
With the bullish structure intact, I expect GBPUSD to continue toward 1.3800.
This is a technical view, not financial advice. Always wait for confirmation and manage risk carefully.
The current area is the key test. A clean break and close above resistance would signal that buying pressure is strong enough to absorb the remaining supply. However, chasing the first breakout candle is rarely ideal; price may briefly pull back to test the broken zone or the rising trendline before continuing.
That retest is where confirmation matters most. If sellers fail to force price back below the breakout level and buyers respond with a strong bullish rejection, the former resistance will have turned into support. That would strengthen the case for the next expansion higher.
With the bullish structure intact, I expect GBPUSD to continue toward 1.3800.
This is a technical view, not financial advice. Always wait for confirmation and manage risk carefully.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.