Technical Analysis of GBP/USD
GBP/USD is moving in a bullish trend on the four-hour timeframe. Price has formed a Fair Value Gap (FVG) on the four-hour chart around the 1.3497 level. Currently, prices are expected to react to the upside from this area. Therefore, to confirm the bullish bias, a positive price action reaction is required from these levels, after which the bullish trend is expected to continue.
Price continues to respect the overall bullish structure on the medium timeframe, supporting further upside potential.
Holding above the FVG zone increases the probability of targeting higher liquidity levels in the coming period.
Key Economic News:
There are no major economic news events today, therefore market movement is expected to remain relatively calm.
Liquidity Levels:
Prices are expected to rise, targeting the 1.3606 level, followed by the 1.3725 level.
Scenario Invalidation:
The bullish scenario will be invalidated if price visits the 1.3415 level.
