GBPUSD is consolidating below a key medium-term resistance zone, with a rounding top and a minor head-and-shoulders pattern forming. The price is currently retesting the Fair Value Gap near 1.34900 — a potential reversal zone if it fails to break higher.
On the fundamental side, the Bank of England's decision to hold interest rates on June 19 disappointed the market. Meanwhile, the US dollar remains supported by safe-haven demand and the Federal Reserve’s hawkish tone, adding further pressure on GBP.
If GBPUSD fails to hold the trendline support near 1.33700, the risk of a deeper decline increases. Both the technical structure and macro fundamentals favor the bears.
On the fundamental side, the Bank of England's decision to hold interest rates on June 19 disappointed the market. Meanwhile, the US dollar remains supported by safe-haven demand and the Federal Reserve’s hawkish tone, adding further pressure on GBP.
If GBPUSD fails to hold the trendline support near 1.33700, the risk of a deeper decline increases. Both the technical structure and macro fundamentals favor the bears.
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.