The US dollar showed some strength against the British pound during Thursday and Friday session, reflecting overall USD resilience.
Despite the prevailing uptrend, it's possible that GBP/USD may begin to consolidate, given how extended the pound's bullish run has been.
Currently, price is holding above a rising trendline, with additional support near the 1.3350 level. That trendline could play a key role if price pulls back further.
This pair often acts as a gauge for broader USD strength, considering the pound's relative strength. A decisive break above the 1.3600 level could open the door for a move toward 1.3750 in the sessions ahead.
Despite the prevailing uptrend, it's possible that GBP/USD may begin to consolidate, given how extended the pound's bullish run has been.
Currently, price is holding above a rising trendline, with additional support near the 1.3350 level. That trendline could play a key role if price pulls back further.
This pair often acts as a gauge for broader USD strength, considering the pound's relative strength. A decisive break above the 1.3600 level could open the door for a move toward 1.3750 in the sessions ahead.
Note
The GBP/USD is forming a head and shoulder pattern.
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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.