Dmitri Lysenko
⬤ GBP/USD has caught traders' attention after bouncing sharply from the 1.3340 area, where buyers jumped in following an extended correction. The pair has completed a complex price structure and is now stabilizing near this lower support zone—a shift that hints at changing short-term momentum after the selling pressure we saw earlier this month.
⬤ The chart shows a clear rejection at 1.3340, marking a noticeable change in how the market's behaving. After testing that support level, GBP/USD pushed back up and moved into consolidation mode, suggesting the bears are losing steam. Price is now building a base above this zone, which tells us sellers are having trouble pushing it lower while buyers keep defending the level.
⬤ Looking at the technical picture, upside targets sit near 1.3440 and 1.3480—areas that line up with previous resistance. As long as GBP/USD stays above the current support region, the structure looks more bullish than bearish. The pattern of higher short-term lows and stabilization near broken trendlines backs up this developing reversal scenario.
⬤ This move matters for the broader currency market since GBP/USD often reflects shifts in trader sentiment and near-term expectations around macro factors and policy changes. A sustained push toward those resistance levels could strengthen bullish positioning across major FX pairs, while failing to hold support would challenge the reversal story and signal fresh downside risk.
Dmitri Lysenko
