FX.co ★ Melsiafy | GBP/USD

GBP/USD Technical Outlook GBP/USD is currently trading around 1.3442, where recent price action reflects a period of negative pressure following the latest advance. The pair has pulled back over the last sessions, not aggressively, but in a controlled manner, suggesting the market is searching for a new support base rather than signaling a full trend reversal. On the hourly timeframe , price continues to show short-term weakness, with lower highs forming and upside attempts facing quick rejection. However, downside momentum has begun to slow, and selling waves are losing strength. This behavior often appears when short-term sellers start taking profits and the market approaches a temporary balance zone.

Looking at the H4 timeframe , the decline appears corrective in nature. The broader bullish structure remains intact, as price has not broken any major structural support. The pullback is unfolding gradually, with overlapping candles rather than impulsive bearish moves, which supports the idea of a healthy retracement within an uptrend.

From the daily perspective , GBP/USD is still operating within a broader bullish framework. The recent weakness looks like a pause or reset rather than a breakdown. Price remains above key long-term support levels, and there are no strong daily rejection candles indicating aggressive distribution.

Key Zones to Watch Support 1.3380 – 1.3320: First demand area where buyers may attempt to stabilize price 1.3250 – 1.3200: Major support zone; holding above keeps the bullish structure valid Resistance 1.3520 – 1.3560: Initial recovery resistance 1.3650 – 1.3700: Strong supply zone linked to previous highs Fundamental Notes Upcoming UK economic data and US dollar-related developments (especially Fed commentary) may act as catalysts for the next directional move, increasing sensitivity around these technical zones. Final View Overall, GBP/USD is in a corrective phase within a broader bullish structure. Short-term pressure remains present, but slowing momentum suggests the market is evaluating support rather than accelerating lower. As long as key support levels hold, the broader bullish bias remains valid, with the next move likely emerging once this consolidation phase resolves.