FX.co ★ GBP/USD Forecast for July 7, 2025

On Thursday and Friday, the pound traded within a narrow range between the support level of 1.3635 and the resistance of the daily MACD line. This morning, the price is attempting to break through the support, while the Marlin oscillator is also trying to move into bearish territory.

A firm move below the support level would open the path toward the target of 1.3414 — the low from May 29. An intermediate level where a pullback is possible is the June 20 high at 1.3510.

On the four-hour chart, the price has settled below the MACD line and is now attempting to gain a foothold beneath the 1.3635 level. If successful, this would pave the way toward the intermediate level of 1.3510. The Marlin oscillator is ready to turn downward and has been in bearish territory since July 1.