FX.co ★ GBP/USD

GBPUSD Trend Outlook: We are currently assessing the live analysis of the GBP/ USD currency pair's pricing movements. As part of the upward momentum from the low of 1.35190, GBP/USD buyers pushed the pair into the second impulse zone, triggering an almost immediate bearish reaction. Currently, on the H4 chart, the critical level for the pound-dollar pair is 1.42710. If buyers push the price back above this level, the uptrend may resume, with a potential second attempt to break through the resistance at 1.43390. However, if bears secure a foothold below 1.42710, the GBP/USD price will likely decline toward the upper boundary of the first impulse zone, near 1.41450 and 1.40970, where potential upward movements could emerge from these support levels. It's crucial to monitor how today's trading session closes at about the 1.42710 level. As for the 4-hour chart, I don't foresee a reversal yet, as there hasn't been a pullback to correct the strong growth or establish an explicit minimum. At this point, only a more substantial pullback seems likely. The upward correction and level analysis were flawless. According to the plan, a pullback could not surpass the green level at 1.43180. The price followed this path perfectly: pulling back, not exceeding the level, and quickly moving downward. I have created an ideal condition for selling, especially with a stop loss of just 34 points—too good an opportunity to pass up.

The day's outcome was highly successful. Tomorrow, after an anticipated upward correction, another push downward, ideally to 1.42230, should be considered. However, unlike the euro, the pound reached new highs yesterday, creating a new reference point, even though today's price action prevented GBP/USD from fully capitalizing on Friday's growth. I anticipate a slight bounce upward, possibly by tomorrow morning or early in the day, setting the stage for a robust decline toward the 1.42230 level. Tomorrow's news, particularly the GDP data from the U.S., could fuel significant movement.