FX.co ★ Melsiafy | GBP/USD

GBPUSD Technical Analysis At the current price area around 1.3650 – 1.3660, GBPUSD is showing a technically important behavior when both the hourly and daily timeframes are analyzed together. What immediately stands out is that price continues to hold above a clearly defined descending trendline, which has acted as dynamic resistance for an extended period. The fact that the market is now stabilizing above this trendline adds weight to the ongoing positive bias, as long as no decisive breakdown occurs. - On the daily timeframe, price structure remains constructive. After previously rejecting lower levels, the pair managed to reclaim ground and is now trading above the long-term descending trendline, which previously capped upside attempts. I notice that price is not accelerating aggressively, but rather consolidating above the trendline, which often signals acceptance rather than exhaustion. This behavior usually reflects controlled buying interest instead of speculative spikes.

The daily candles also show that bearish follow-through has been limited. Despite minor pullbacks, price continues to close above key structural levels, reinforcing the idea that sellers are struggling to regain dominance. As long as daily closes remain above the trendline zone around 1.3600 – 1.3620, the broader outlook remains tilted to the upside. - On the hourly timeframe, the picture becomes more refined. Price is trading within a consolidation range above a shaded demand zone that lies roughly between 1.3580 and 1.3620. This shaded area is clearly important, as it has repeatedly absorbed selling pressure and triggered intraday rebounds. I can see that each dip into this zone has been met with buying interest, suggesting that market participants are actively defending it.

The horizontal level near 1.3650 is also critical. It has acted as both resistance and short-term equilibrium, and price is currently hovering around it. Sustained acceptance above this level opens the door for a retest of higher zones, while failure to hold could trigger a return toward the shaded demand area. From an indicator perspective, the signals are balanced but supportive. On both timeframes, RSI is holding above the midline, fluctuating in the 55–60 range on the daily chart and near 60 on the hourly. This tells me momentum is positive but not overheated, leaving room for continuation without immediate exhaustion. Importantly, RSI has not shown bearish divergence during recent pullbacks, which supports the stability of the current structure. The MACD also aligns with this view. On the daily timeframe, MACD remains above the zero line, with histogram bars showing positive momentum despite slight slowing. This reflects consolidation within strength rather than a trend reversal. On the hourly chart, MACD has recently turned upward again, signaling renewed short-term momentum after a corrective phase. - Key Support and Resistance Zones Support Zones 1.3580 – 1.3620: Major shaded demand zone on H1, repeatedly defended. 1.3500 – 1.3520: Deeper structural support; a break below this would weaken the bullish structure significantly. Resistance Zones 1.3685 – 1.3720: First upside barrier where price previously stalled. 1.3800 – 1.3860: Upper resistance and broader supply area on the daily chart. As long as price remains above the descending trendlines on both H1 and D1, the technical structure favors continuation rather than reversal. However, I also note that any clear break back below the trendline, especially with strong bearish candles and momentum expansion, would invalidate the positive short-term view and shift focus back toward deeper supports. - Conclusion In summary, GBPUSD is currently trading in a technically constructive position, supported by multi-timeframe stability above key descending trendlines and reinforced by well-defined demand zones. Momentum indicators suggest controlled bullish pressure rather than speculative excess. While upside continuation remains the favored scenario under current conditions, the market still requires confirmation through sustained price acceptance above resistance levels. Until a confirmed breakdown occurs, the structure remains neutral-to-positive, with pullbacks appearing corrective rather than trend-changing. " Discipline today, progress tomorrow "