Technical Analysis of GBP/USD

GBP/USD is moving in a bullish trend on the daily timeframe, and prices rebounded upward from the 1.3521 level, which represents an OB zone on the daily chart. During today’s session, the bullish direction is expected to continue.

Prices are also trading above the moving averages, which supports the continuation of positive momentum during trading sessions.
In addition, the pair is maintaining trading above key demand zones, increasing the probability of further upside movement in the coming period.

Key Economic News

Today, the US dollar is awaiting Average Hourly Earnings data, Non-Farm Payrolls (NFP) data, and the Unemployment Rate. These releases are expected to have a significant impact on GBP/USD movements.

Upcoming Liquidity Levels

Prices are expected to rise and target the 1.3663 level, followed by the 1.3727 level.

Scenario Invalidation

The bullish scenario will be invalidated if prices visit the 1.3461 level.