GBP/USD Bullish Channel Holding–Pullback Before the Next Leg Up?This is a 4-hour chart of the British Pound vs US Dollar (GBP/USD) from FXCM, showing a strong bullish market structure within a rising parallel channel.
🔍 Key Technical Insights:
Uptrend Channel: Price has been consistently making higher highs and higher lows within a well-defined ascending channel.
Support Zones: Three horizontal levels are marked at 1.348, 1.333, and 1.326 — likely acting as short-term demand zones or reaction points.
Projection Path (Red Line): A pullback into the lower part of the channel (likely near 1.333–1.326 zone) is anticipated, followed by a bullish continuation toward the upper channel resistance.
🧭 Market Outlook:
Bias: Bullish while above channel support.
Buy Area: Ideal long setup may develop around the 1.333–1.326 support region.
Target Zone: Potential continuation toward 1.410+ if the structure holds.
This chart favors trend continuation after a correction, aligning with smart money accumulation and institutional flow behavior within a bullish channel.
