FX.co ★ KHALISA | GBP/USD

GBP/USD Market Analysis: Bullish Trend Remains Dominant

Good afternoon. This discussion about the GBP/USD pair is very interesting. Looking at the overall price movement, the upward trend still appears very strong. In fact, the increase in the previous trading session was significant enough to bring the price closer to the resistance area of 1.3623. With the bullish momentum still maintained, the chances of breaking through this resistance are quite high. However, confirmation from several technical indicators is still needed before drawing any conclusions. On the daily timeframe, the GBP/USD bullish trend remains consistent. The price is well above the middle Bollinger Band and the 50-day moving average (EMA), indicating that buying pressure remains dominant. This condition is also supported by the MACD, where the histogram continues to move upward and is above the signal line. This indicates that bullish momentum is still developing and buyers are still in control of price movements. Currently, the price is testing the resistance area of 1.3630. If it can break through and hold above the 1.3660 level, the chances of forming a higher high will increase. This confirmation could be a further signal that the bullish trend has the potential to continue in the medium to long term. Meanwhile, on the H4 timeframe, the bullish structure remains clearly visible. The Bollinger Bands are trending upward, and the price continues to move away from the middle band. The price remains above the 50-day moving average (MA) and the upward movement of the moving average further reinforce the indication that buyers still have strong momentum. With the alignment between the Daily and H4 timeframes, the opportunity to follow the trend with a buy position becomes more attractive. In conclusion, GBP/USD is currently still in a bullish trend, making the buy option more appropriate given market conditions. For entry, the 1.3550 area can be considered a pullback or consolidation zone before the previous increase. A stop-loss can be placed below the 1.3470 support level, while an initial target can be directed to the 1.3680 area. That concludes my view on GBP/USD. I hope this analysis is useful for consideration, and may we continue to achieve consistent and profitable trading results.