Technical Analysis of GBP/USD
The GBP/USD pair is moving in an uptrend on the four-hour timeframe. Price rebounded upward from the 1.3580 level, which represents a Fair Value Gap (FVG) on the weekly timeframe.
Currently, price is trading around 1.3647, and the pair is expected to continue rising during today’s session.
The bullish scenario is supported by price holding above the previous demand zone, with no clear signs of weakness in momentum.
Any potential pullbacks may present buying opportunities as long as the bullish market structure remains intact.
Key Economic News
There are no major economic releases affecting the US dollar at the moment, which suggests relatively smooth and balanced price action.
Further upside is expected, targeting 1.3735, followed by 1.3870.
Invalidation Scenario:
The bullish outlook will be invalidated if a four-hour candle closes below 1.3580.
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