FX.co ★ GBP/USD. Technical Analysis on September 29, 2025

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.3400 (Friday's daily candle close) may continue upward with the target at 1.3454 – the 8-period EMA (thin blue line). Upon reaching this line, a corrective move downward is possible with the target at 1.3363 – the 61.8% pullback level (yellow dotted line). When testing this level, the price may then start moving upward with the target at 1.3381 – the 14.6% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis – up;
• Fibonacci levels – up;
• Volumes – up;
• Candlestick analysis – up;
• Trend analysis – up;
• Bollinger Bands – up;
• Weekly chart – up.

General conclusion: upward trend.

Alternative scenario: from the level of 1.3400 (Friday's daily candle close), the price may continue moving upward with the target at 1.3454 – the 8-period EMA (thin blue line). Upon reaching this line, a corrective move downward is possible with the target at 1.3381 – the 14.6% pullback level (blue dotted line). When testing this level, a corrective upward move is possible with the target at 1.3406 – the historical resistance level (light blue dotted line).