FX.co ★ urashiki | GBP/USD

Good afternoon! Today, the British pound is showing strong bullish activity against the US dollar and has already managed to recover most of yesterday’s losses. The GBP/USD pair quickly returned toward the important 1.3630 level, which once again confirms that buyers remain active and continue supporting the upward movement. In my opinion, the market currently demonstrates solid bullish momentum, and the overall price structure still favors further growth in the near term. At the current pace, I believe GBP/USD may soon test the middle area of the 1.3600 range again. This bullish scenario is also supported by the four-hour stochastic indicator, which continues moving upward and signals that momentum remains on the side of buyers. As long as this indicator maintains its positive direction, the probability of continued upward movement remains relatively high.

From a technical perspective, I expect the pair to eventually break above and renew the high that was formed on May 1. If this happens, it would provide additional confirmation that the four-hour bullish trend is continuing to develop. The current market structure already suggests that buyers are attempting to maintain control, and the recent recovery after yesterday’s decline only strengthens this view. Another important factor supporting the bullish outlook is the position of price relative to key technical indicators. GBP/USD is currently trading well above the rising 55-period moving average, which usually indicates that the medium-term trend remains positive. In addition, the median line of the Bollinger Bands trend indicator is also moving upward, further confirming that the overall direction of the market still favors buyers rather than sellers. Considering all these technical signals together, I believe the probability of further gains remains strong. Of course, market volatility and economic news can still influence short-term price movements, so I continue monitoring the market carefully. However, as long as GBP/USD remains above the key moving average support and momentum indicators continue supporting the bullish trend, I expect the pair to keep moving higher and potentially establish new local highs in the coming sessions.