FX.co ★ GBP/USD

I analyze Friday’s GBPUSD close and I immediately note that the session ended with a bullish candlestick, and I see the current price at 1.3096 as an important reference point that helps me gauge the strength of buyers going into the new week. I observe that buying targets have formed on the hourly chart, and I focus first on the 161.8 Fibonacci extension at 1.3177, which I consider the most statistically probable target to be reached. I evaluate the second target, located at the 261.8 Fibonacci level at 1.3261, and I believe that although it requires stronger momentum, it still fits within a realistic weekly growth scenario. I also study the third target at the 423.6 Fibonacci extension around 1.3397, and I regard this level as ambitious but not impossible, especially if the market accelerates in a trending structure rather than a corrective one. I interpret these bullish targets as feasible because I see Friday’s candle as a strong signal of buyer initiative, and I think the technical background supports at least an attempt to reach one or two of these extension levels. I remind myself, however, that statistically the first target is achieved more frequently, and I take this into account when forming expectations and evaluating risk. I consider the invalidation zone at 1.3035 to be crucial, because I understand that a breakout below this support would cancel the upside scenario entirely, and I would then reorient my analysis toward forming fresh bearish targets. I mark 1.3009 as the key southern breakout objective in the event the price fails to maintain its bullish structure, and I treat this level as the next logical destination for sellers if support fails. I conclude that as long as the price stays above 1.3035, I maintain a bullish bias with realistic expectations for upward continuation, but I remain ready to shift my perspective if the market breaks support and transitions into a downward phase.

I analyze the market beginning with the fact that the last weekly session of November opened at 1.3098 with a small upward gap, and I interpret this gap as an initial trigger that activated an upward pullback signal on the D1 timeframe. I see that this signal did not remain isolated, because I now observe two fully formed upward pullback signals on D1, and I consider this duplication a strong indication that the bullish corrective structure is gaining depth and reliability. I assess that the natural target for this upward pullback is positioned near 1.3250, and I view this level as an equilibrium zone where price may attempt to complete or slow its corrective advance. I also examine the H4 chart and I notice that there is a similar upward pullback signal, but I acknowledge that only one of the signals on H4 is fully formed while the second one is still lagging behind, which makes me treat the H4 confirmation with slightly more caution. I evaluate that the multi-timeframe alignment, even if not perfectly synchronized, still supports a controlled upward correction, and I interpret this as a structured pullback rather than an impulsive trend reversal. I monitor the fact that the weekly upward gap created initial momentum, and I believe that such gaps often act as catalysts for short-term bullish pressure before the market eventually returns to broader directional flow. I recognize that the D1 structure currently carries more analytical weight than H4 because of its double signal confirmation, and I consider the D1 upward pullback scenario to be stronger and more meaningful for medium-term positioning. I reflect on the current price behavior and I conclude that as long as the market holds above the gap-origin levels, I expect the pullback toward 1.3250 to remain valid and technically justified.