GBP/USD has broken out of the descending channel and is maintaining bullish momentum. I expect the price to move toward the 1.3725–1.3807 resistance zone, where we may see a corrective pullback. If this zone holds and structure remains bullish, the next target sits at the weekly order block near 1.4230, aligning with higher-timeframe supply.
Bias remains bullish unless price closes back below recent lows and re-enters the channel, which would invalidate the setup. For now, market structure favours continuation to the upside.
Targets:
Bias remains bullish unless price closes back below recent lows and re-enters the channel, which would invalidate the setup. For now, market structure favours continuation to the upside.
Targets:
- Short-term: 1.3725–1.3807
- Long-term: 1.4230
- Invalidation: Break and close back below channel lows.
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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.