FX.co ★ GBP/USD

Good afternoon. I hope you are all well and are staying healthy and continuing your daily activities. Regarding the GBP/USD currency pair, its movement today continues to show consistent strengthening. The price continues to rise and is approaching the resistance area around 1,341. If buying momentum is maintained, the next target will be the dynamic resistance level of the Upper Bollinger Band at around 1,346. Observations on the daily timeframe show the price is currently above the 50-day Exponential Moving Average (EMA) and also above the Middle Bollinger Band. This condition signals that the major trend is still in a bullish phase. The next attractive upside target is the supply area around 1,356. The strengthening signal is also supported by the MACD indicator, where the histogram has broken out above the zero line and is moving consistently above the signal line. In such conditions, buyer dominance usually remains stronger than seller pressure. This increase was also preceded by the formation of a double bottom pattern, which is often an early indication of a reversal. This pattern now appears increasingly confirmed. If the price manages to break through and maintain above the 1,350 level, structurally, a new higher high will form, signaling a continuation of the uptrend. This opens the opportunity for GBP/USD to continue rising in the medium term. On the H4 chart, the Bollinger Bands are also clearly trending upward. The price has even broken out above the 1,339 consolidation area. Previously, the market had been moving sideways between the 1,334 support and 1,339 resistance levels. When the price successfully breaks out of the consolidation area and rises, the chances of a bullish continuation are usually greater. From a trend analysis perspective, the price remains above the middle Bollinger Band and the 50-day moving average (EMA). Additional support comes from the MACD histogram, which continues to rise above the signal line, indicating that market momentum remains in the hands of buyers. Therefore, my conclusion for the current GBP/USD trend remains bullish, and the call option remains a more relevant scenario. Trading plan: focus on buy opportunities in the 1,335 area with a stop-loss at 1,328 and an upside target at 1,350.