The market is reacting to a series of strong US economic data, especially the rising expectations for ADP and ISM PMI figures. This has boosted the USD, putting pressure on major currency pairs, including GBPUSD.
Looking at the H4 chart, GBPUSD is trading near the resistance zone around 1.35959 while also testing a long-term descending trendline – a level that has previously rejected price multiple times. Notably, although price is still holding above the EMA 34 and 89 support zone, recent candles reflect clear hesitation, suggesting the pair is “stuck at a crossroads.”
A reasonable technical scenario: if the price continues to be rejected at 1.35959 and breaks below the EMA confluence and support area at 1.34994, a short-term downtrend may resume. The nearest target would be around 1.34530 – a strong technical support that has held up price in the past.
Looking at the H4 chart, GBPUSD is trading near the resistance zone around 1.35959 while also testing a long-term descending trendline – a level that has previously rejected price multiple times. Notably, although price is still holding above the EMA 34 and 89 support zone, recent candles reflect clear hesitation, suggesting the pair is “stuck at a crossroads.”
A reasonable technical scenario: if the price continues to be rejected at 1.35959 and breaks below the EMA confluence and support area at 1.34994, a short-term downtrend may resume. The nearest target would be around 1.34530 – a strong technical support that has held up price in the past.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.
Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.