FX.co ★ dusty24 | GBP/USD

Market analysis of the GbpUsd pair with Bollinger Bands indicator on Tuesday, June 16, 2026 Bullish efforts by buyers were initially successful in trading the GbpUsd pair on Monday but were short-lived as sellers regained control with a stronger presence. Sellers dominated the market with a larger volume, pushing back bullish momentum below the seller resistance area at 1.3453-1.3452. The sellers managed to turn the market bearish by entering stronger, reversing the bullish trend significantly downwards. Monitored using the Bollinger Bands indicator on the Daily timeframe, the GbpUsd pair showed signs of buyer dominance, breaking out above the Middle Bollinger Band at 1.3404. Supported by bullish candlestick formations, indicating a potential bullish uptrend for today's trading. Buyers will aim to push the price higher towards the Upper Bollinger Band at 1.3494. A strong breakout above this level could propel the price even higher towards the nearest supply resistance area. However, failure to break above may lead to sellers regaining control, pushing the price downwards towards the Middle Bollinger Band. During Tuesday's midday trading session approaching the European market opening, sellers regained control near the resistance level, potentially reversing the bullish momentum. If sellers continue to dominate, the price could turn bearish towards the nearest buyer support area at 1.3383-1.3382. Conversely, if buyers manage to hold above the support level, the price may turn bullish towards the nearest seller resistance area at 1.3442-1.3443. The price movement remains bearish, suggesting any price strength could be a correction. Trading options include placing pending orders as follows: - Enter a sell position if sellers break below the nearest buyer support area at 1.3383-1.3382, with a take profit target at 1.3361-1.3360. - Enter a buy position if buyers break above the nearest seller resistance area at 1.3442-1.3443, with a take profit target at 1.3482-1.3483.