GBP/USD Price Forecast: Remains above nine-day EMA near 1.3650

💡 DMK Insight

GBP/USD is bouncing back, and here’s why that matters right now: Trading around 1.3680, the pair’s recovery signals a potential continuation of the bullish trend, especially as it remains within an ascending channel. This technical setup suggests that traders should watch for a breakout above recent resistance levels, which could trigger further upside momentum. If the pair can hold above this level, it might attract more buying interest, particularly from institutional players looking to capitalize on the bullish sentiment. However, keep an eye on broader market factors, like U.S. economic data releases or geopolitical tensions, which could introduce volatility and impact the pair’s trajectory. On the flip side, if GBP/USD fails to maintain its upward momentum and drops below key support levels, it could signal a bearish reversal, prompting traders to reassess their positions. Watch for any signs of weakness around 1.3600, as a breach here could lead to a more significant pullback. For now, the bullish bias remains intact, but vigilance is key as market conditions evolve.