The medium-term outlook offers some hope for the bulls. GBP/USD recently broke above the 100-period moving average on the H4 chart – a significant technical achievement! MACD indicators are flashing positive signals too, with expanding histogram bars suggesting momentum is building. The USD strength driven by tariff tensions may present headwinds for GBP/USD’s upward trajectory.
Technical momentum is building for the bulls, with price action confirming key moving average breakouts and strengthening MACD signals.
What makes this situation so exciting? The price is retesting previous resistance as new support! This classic price action behavior might be setting the stage for another push higher. But can it finally crack that stubborn 1.36 level?
Despite recent struggles at resistance, Cable has managed to eke out weekly gains. This shows persistent buying interest even as sellers defend their territory at higher levels. It’s a true battle of market wills! The market is rapidly approaching a critical decision point where the yellow descending trendline meets the primary support. The latest data shows GBP/USD has broken critical support at 1.3365, signaling potential for further downside movement.
The weakness in the US dollar during June 2025 has helped propel GBP/USD to these multi-month highs. But fundamental factors will ultimately determine if this resistance can be conquered. Keep your eyes on economic data releases!
