After several sessions of consolidation, GBPUSD is showing positive signals as price continues to hold above both EMAs and moves closer to the short-term high near 1.3400. What stands out is that every pullback has quickly attracted buying absorption, suggesting buyers remain in control of the market rhythm.
At the same time, the US Dollar remains under pressure as markets expect the Fed to have room to ease policy in the coming months, while Sterling is supported by the fact that the Bank of England’s rate outlook has not changed significantly. This continues to create a supportive backdrop for GBPUSD’s recovery.
On the H4 chart, the higher-high and higher-low structure remains intact, while the EMA34 has crossed above the EMA89, confirming that bullish momentum is dominant. If price breaks decisively above 1.3400, the uptrend could extend toward 1.3470, the next resistance zone.
At the same time, the US Dollar remains under pressure as markets expect the Fed to have room to ease policy in the coming months, while Sterling is supported by the fact that the Bank of England’s rate outlook has not changed significantly. This continues to create a supportive backdrop for GBPUSD’s recovery.
On the H4 chart, the higher-high and higher-low structure remains intact, while the EMA34 has crossed above the EMA89, confirming that bullish momentum is dominant. If price breaks decisively above 1.3400, the uptrend could extend toward 1.3470, the next resistance zone.
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