After rebounding from the EMA89 area near 1.3500, GBPUSD recovered to approach the 1.3600 resistance zone but was quickly rejected. The H4 chart shows weakening bullish momentum as price retests the previous distribution area without managing a close above it.
The current technical structure leans toward a potential pullback, especially since the EMA34 and trendline support zone has not been broken. If the price breaks back below 1.3500, the next target would be around 1.3440 – the previous key support.
Recent news shows a slight decline in US CPI, temporarily weakening the USD, but the market is now focused on the upcoming FOMC meeting to determine the rate direction. If the Fed maintains a hawkish stance, GBPUSD is likely to come under renewed downward pressure.
The current technical structure leans toward a potential pullback, especially since the EMA34 and trendline support zone has not been broken. If the price breaks back below 1.3500, the next target would be around 1.3440 – the previous key support.
Recent news shows a slight decline in US CPI, temporarily weakening the USD, but the market is now focused on the upcoming FOMC meeting to determine the rate direction. If the Fed maintains a hawkish stance, GBPUSD is likely to come under renewed downward pressure.
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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.