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Trading Journal Tuesday, June 30, 2026 Analysis of the Development of the GBP/USD Currency Pair

Good morning, fellow traders! May this sunny day bring us all good health, smooth fortune, and maximum trading results. Following our discussion of gold commodity movements in our previous journal, I would like to share my views on the GBP/USD currency pair, which I find quite interesting to watch. The current price movement indicates a rebound (rejection) from the strong support area at 1.318, opening up the opportunity for short-term upside. The following analysis uses a combination of Moving Averages, Bollinger Bands, and MACD as the basis for decision-making. Starting from the daily timeframe, it appears that GBP/USD experienced quite strong selling pressure last week. However, when the price entered the 1.318 support area, the pressure began to ease, and buyers responded, successfully preventing further declines. Today, the bullish movement continues, with the price rising to near 1.325, which is a minor resistance area on a smaller timeframe. This increase is reasonable, as the price had previously touched the lower Bollinger Band, while the MACD indicator indicates a fairly oversold condition. These conditions often trigger a correction or rebound. Therefore, the next upside target could potentially be the 1,330 area, which is also a supply zone and a former support breakout area, potentially transforming into resistance. If the price manages to reach this area, I would prefer to wait for confirmation of a bearish signal to resume the broader downtrend. However, if the price manages to break through and hold above 1,330, or even continue past 1,350, the chances of a structural change to a stronger uptrend are greater. Moving to the H4 timeframe, it appears that the current uptrend is still stalled around the 1,325 resistance level. Nevertheless, technically, bullish momentum remains quite dominant. The price has moved above the Middle Bollinger Band and the 50-day Moving Average, while the MACD indicator has successfully broken through the zero line and remains above the signal line. This combination indicates that buyers still dominate, thus the potential for further short-term gains remains quite substantial. Under these conditions, a buy strategy is still more appropriate to prioritize over seeking sell opportunities. Summarizing the two analyses above, GBP/USD still has a short-term upward trend, especially when referring to the H4 timeframe. Meanwhile, on the Daily timeframe, the price still has the potential to consolidate before determining its next direction. Therefore, my trading plan is to look for buy opportunities around 1,320, with an upside target towards the 1,330 area, and a stop-loss placed below the 1,315 support level as a form of risk management. That concludes my journal and analysis for today. I hope it can serve as additional reference and discussion material for those of you who are also monitoring GBP/USD movements. As always, this analysis is not an invitation to trade, but simply a sharing of perspectives based on technical analysis. I am also very open to input, criticism, and opinions from everyone. Hopefully, through this discussion, we can broaden our knowledge and gain useful insights. Happy trading and may you always profit!