British Pound / U.S. Dollar
Long
Updated

GBP/USD Extends Rally After Breaking Key Trendline

374
Hello everyone, what are your thoughts on GBPUSD ?

Today, the pair continues its winning streak, currently trading around 1.358. Broad selling pressure on the US Dollar (USD) has fueled GBP/USD’s bullish momentum. From a technical perspective, the pair has successfully broken above the descending trendline and closed higher, adding further strength to the bulls.

Price is now testing immediate resistance, and the formation of a head-and-shoulders pattern is showing strong potential. If this setup completes, the next target could be the resistance at the 1.374 high.

What about you — where do you think GBP/USD is heading next? Share your thoughts in the comments!
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