GBPUSD is attempting to recover after the sharp breakdown in mid-May, but the rebound still looks weak overall.
On the H4 chart, EMA34 has crossed below EMA89 and both moving averages continue trending downward, confirming that the medium-term bearish structure remains dominant.
Recent upward moves look more like technical pullbacks, with weak volume and repeated rejections around EMA34 — a pattern often seen before trend continuation.
At the same time, the US dollar continues attracting strong capital flows due to high Treasury yields and expectations that the Fed will keep rates elevated for longer.
Meanwhile, GBP still lacks a strong catalyst capable of shifting momentum clearly against the USD.
On the H4 chart, EMA34 has crossed below EMA89 and both moving averages continue trending downward, confirming that the medium-term bearish structure remains dominant.
Recent upward moves look more like technical pullbacks, with weak volume and repeated rejections around EMA34 — a pattern often seen before trend continuation.
At the same time, the US dollar continues attracting strong capital flows due to high Treasury yields and expectations that the Fed will keep rates elevated for longer.
Meanwhile, GBP still lacks a strong catalyst capable of shifting momentum clearly against the USD.
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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.