GBP/USD remains structurally bullish following the recent breakout. Price is currently consolidating around 1.3630 and appears to be preparing for another potential move higher.
📌 Key Levels to Watch
- 🟢 Support: 1.3600–1.3610
- 🎯 Target 1: 1.3700–1.3730 liquidity zone
- 🎯 Target 2: 1.3740–1.3750
- 🔴 Invalidation: A break below 1.3600 would weaken the bullish setup.
📈 Trading Plan
The preferred setup is to wait for a pullback into the 1.3600–1.3610 support zone rather than chasing price at current levels.
If buyers successfully defend this support area, bullish continuation toward the marked liquidity and resistance zones could remain in focus.
Traders should look for confirmation from price action around support before considering a continuation setup.
📅 Forex Calendar — Key Events This Week
- Wednesday: 🇺🇸 US Core PCE + GDP
- Thursday: 🇺🇸 Jobless Claims + Jackson Hole
- Friday: 🇺🇸 Fed Chair Warsh Speech + US Labour-Market Revision
⚠️ Volatility Watch
These high-impact U.S. events could create increased volatility in GBP/USD. Traders should be prepared for sharp price movements around the data releases and central-bank commentary.
🎯 Market Outlook
Bullish scenario: Hold 1.3600–1.3610 → bullish continuation → 1.3700–1.3730 → 1.3740–1.3750.
Bearish warning: A decisive break below 1.3600 would weaken the current bullish structure and require a reassessment of the setup.
Best setup: Wait for the pullback into support. Trade the confirmation, not the anticipation. 📊
Disclaimer: This content is provided for educational purposes only and does not constitute financial advice. Always conduct your own analysis and apply appropriate risk management before entering any trade.
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