FX.co ★ GBP/USD

Hello Everyone.. Price action on GBPUSD is currently unfolding around the 1.3430 area, and from my perspective, this places the pair directly above a well-defined daily support zone highlighted in green on the chart. When I look at the broader structure, I notice that this area has repeatedly attracted buying interest in the past, which makes it a critical decision point at the moment. I also observe that price has slowed down after the recent corrective move, suggesting that the market is pausing to reassess value rather than committing to a clear direction. Although the overall daily trend remains bearish, I see that the current price reaction above support is reducing immediate downside pressure. Price is still trading below the descending daily trendline that has guided the market since mid-2025, and I consider this trendline a key reference for directional control. If buyers manage to maintain price above the green zone, I expect a corrective attempt toward the trendline, where I will be watching closely for renewed selling pressure. From my side, I am not treating any upside move as a trend reversal unless the trendline is clearly broken. From an indicator standpoint, I observe that RSI is hovering near its mid-range, which tells me that neither buyers nor sellers are in full control. I do not see any extreme overbought or oversold conditions, and this supports my neutral stance. When I examine MACD, I notice that bearish momentum is slowing, with histogram bars losing strength compared to previous declines. This combination reinforces my view that the market is consolidating near support rather than preparing for an impulsive move. _ Support and Resistance Areas When I focus on key levels, I identify the main support zone between 1.3350 and 1.3400, which corresponds to the green area on the chart. I consider this zone a structural support as long as price holds above it. If I see a daily close below this area, I will reassess my outlook and give more weight to bearish continuation. Below this support, I am watching the 1.3250 level as the next potential downside reaction area, followed by the broader support near 1.3000, which I view as a major bearish target if selling pressure accelerates. On the upside, I mark 1.3500 as the first resistance level where price previously consolidated. Beyond that, I see the descending daily trendline around the 1.3600–1.3650 region as the most important resistance. This area is where I expect strong technical reactions if price rebounds from support.

Final Outlook In conclusion, I see GBPUSD trading at a sensitive technical zone where patience is required. I am currently working with two clear scenarios. The first scenario assumes that the green support zone continues to hold, allowing price to stabilize and move higher toward the descending trendline in a corrective manner. The second scenario becomes valid if I see a clear daily break and close below the support zone, which would confirm renewed bearish pressure and open the door for further downside.