FX.co ★ GBP/USD

GBPUSD Market Outlook: We are analyzing the GBP/USD pair in real time. GBP/USD is trending upward again, retesting the high established on Friday, indicating that buyers are in control and favoring long positions over short positions. We recommend taking a long position with a target level of 27. The two indicators below the main chart also suggest long positions on the hourly (H1) timeframe, with long positions favorable at the 1.37108-1.37328 levels, particularly given the bullish RSI. The pound could reach Friday's high of 29 and potentially retest the 1.37331 level. Analysis of the GBP/USD pair on the weekly chart shows a different trading pattern from the EUR/USD pair. During the euro's decline, it traded within a clear range. After initially reaching overbought levels, the pair continued to rise. The Bank of England's shift to a more complex monetary policy approach complicates the current uptrend.

As the uptrend continues, the price may approach the trading range around 1.37219, but a break above 1.37218 would also signal a trend reversal and create a selling opportunity. The price is currently trading within a flat global range formed by three-way movements, which we expect to signal a breakout or pullback. In the short term, we expect a break above 1.37218 to signal a trend reversal, and a break above 1800 to lead to a pullback to the previous consolidation level. In the longer term, we expect the price to stabilize below the sub-2 level, which would be favorable for adjusting positions and setting trading targets.