GBPUSD backs off after reaching resistance target

The GBPUSD moved higher today after basing earlier in the week within a lower swing area between 1.3360 and 1.3378. The upside momentum accelerated today after the pair pushed above its 100-hour moving average, currently at 1.3416 (blue line on the chart), and found additional buying interest in the early U.S. session.

That strength carried the pair into a higher swing area between 1.3448 and 1.3475, which also contained the 50% midpoint of the range since the May low at 1.3464. The day’s high reached 1.34745, just shy of the top of that zone, but failed to break through convincingly. Since then, the pair has rotated back lower and is now trading below the 1.3448 swing area low.

What next?

Buyers showed strength by reclaiming the 100-hour MA and briefly surpassing the 50% midpoint, but failed to sustain gains above it or reach the 200-hour moving average (green line). The failed break above the midpoint at 1.3464 now defines a risk level for sellers, and a target for buyers aiming to reassert control.

On the downside, the 100-hour MA at 1.3416 remains the key short-term support. From the current level near 1.3435, a pullback toward that MA is possible. Buyers will likely lean against that level on the first test, but if it breaks, momentum could shift quickly in favor of sellers, with potential to revisit the 1.3378–1.3360 support zone.

Trusted by thousands of satisfied customers worldwide.
Your privacy and security are our top priority.
Verified and reviewed by industry experts.
Real-time signals, real results — trusted by professional traders., Transparent, accurate, and trusted by traders globally.
Sharing is caring — a simple act that spreads kindness, knowledge, and connection. Do share this post with your friends so that they can also benefit from it.