Key Highlights
- GBP/USD started a decent increase and climbed above 1.3520.
- A bullish trend line is forming with support near 1.3510 on the 4-hour chart.
- Bitcoin could continue to face heavy resistance near $64,650 and $65,500.
- EUR/USD gained traction and cleared the 1.1580 resistance.
GBP/USD Technical Analysis
The British Pound found support near 1.3440 against the US Dollar. GBP/USD started another increase above the 1.3500 resistance zone.
Looking at the 4-hour chart, the pair settled above 1.3520, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair even attempted to settle above the 1.3565 resistance zone.
On the upside, the pair is now facing a major hurdle at 1.3580. The next major resistance might be 1.3620. A close above 1.3620 could start another steady increase. In the stated case, the bulls could aim for a move to 1.3700.
Any further gains might open the door for a test of 1.3750. If there is a fresh decline, the pair might find bids near 1.3500. There is also a bullish trend line forming with support at 1.3510. The next major support could be near 1.3450 and the 100 simple moving average (red, 4-hour).
The main support might be 1.3420 and the 200 simple moving average (green, 4-hour). A downside break and close below 1.3420 might send the pair toward 1.3315. Any more losses could open the door for a test of 1.3250.
Looking at Bitcoin, the price must settle above $64,650 and $65,500 to decrease bearish pressure and start a steady increase.
Upcoming Key Economic Events:
- UK Claimant Count Change for July 2026 – Forecast 11.2K, versus 6.7K previous.
- UK ILO Unemployment Rate for June 2026 (3M) – Forecast 4.8%, versus 4.9% previous.
