Key Highlights
- GBP/USD found support near 1.3340 and recovered some losses.
- A bearish trend line is forming with resistance at 1.3440 on the 4-hour chart.
- EUR/USD started a consolidation phase below 1.1665.
- Bitcoin price corrected some gains and again settled below $95,000.
GBP/USD Technical Analysis
The British Pound declined below 1.3400 against the US Dollar before the bulls appeared. GBP/USD tested 1.3340 and recently started a recovery wave.
Looking at the 4-hour chart, the pair climbed above 1.3365 and 1.3380. The bulls pushed the pair above the 38.2% Fib retracement level of the downward move from the 1.3494 swing high to the 1.3342 low, and the 200 simple moving average (green, 4-hour).
However, the pair faces many hurdles near 1.3450. Immediate resistance sits near 1.3440 and a connecting bearish trend line. It coincides with the 61.8% Fib retracement level of the downward move from the 1.3494 swing high to the 1.3342 low.
A close above 1.3450 could open the doors for a move toward the 100 simple moving average (red, 4-hour) at 1.3460. Any more gains could set the pace for a steady increase toward 1.3500.
If there is no move above 1.3450, there could be a bearish reaction. On the downside, immediate support is near the 1.3380 level. The first major area for the bulls might be near 1.3340.
A close below 1.3340 might spark heavy bearish moves. The next support could be 1.3300, below which the bears might aim for a move toward 1.3250.
Looking at Gold, the price remained elevated, and the bulls might soon aim for more gains above the $4,680 zone.
Upcoming Key Economic Events:
- UK Claimant Count Change for Dec 2025 – Forecast 18.8K, versus 20.1K previous.
- UK ILO Unemployment Rate for Nov 2025 (3M) – Forecast 5%, versus 5.1% previous.
