FX.co ★ GBP/USD

GBP/USD H1 Technical Outlook The GBP/USD hourly chart shows the pair trading around 1.35251, following a recovery from the sharp decline seen around September 9–10. Price previously fell from the 1.35525–1.35600 region toward 1.34970, but buyers have since regained control and pushed the pair back above 1.35150. The latest candles indicate consolidation near 1.35250, suggesting that the market is currently waiting for a catalyst before choosing its next direction. The short-term structure has improved. The moving average is beginning to turn upward and price is holding close to or slightly above it, which provides a modest bullish signal. However, the pair has not yet produced a decisive breakout above the nearby resistance at 1.35340. A sustained hourly close above this level would strengthen the bullish case and could open the way toward 1.35525, followed by the recent highs around 1.35600–1.35710. Momentum is also supportive but not particularly strong. The RSI(14) is 53.77, placing it above the neutral 50 level while remaining comfortably below the overbought 70 zone. This indicates that buyers currently have a slight advantage, but there is still plenty of room for the RSI to rise if upside momentum accelerates. A move toward 60–65 would provide additional confirmation of strengthening bullish momentum. On the downside, the first important support is around 1.35155. If price remains above this level, the recovery structure remains intact. A break below 1.35155 could bring 1.34970 into focus, where previous buying interest appeared. Below that, 1.34785 becomes the next major support and would represent a deeper bearish retracement. Overall, the H1 outlook is neutral-to-bullish, with buyers gradually recovering control after the recent sell-off. A clean break above 1.35340 would favor further gains toward 1.35525 and 1.35710. Conversely, rejection from resistance followed by a break below 1.35155 would weaken the bullish setup and expose 1.34970. Traders should watch the 1.35340 breakout zone closely, while managing risk around the nearby support levels.