GBP/USD Pulls Back After Rejection – Buyers Eye Lower Levels

Hi everyone,

GBP/USD failed to break above the 1.37500 level and saw a rejection from that resistance, dropping further below the 1.36850 support. Since then, price has consolidated and ranged beneath this level.

Looking ahead, if price remains within this range, we anticipate a move lower to find buying interest between the 1.35300 and 1.34600 levels, which could set the stage for another push higher.

As previously noted, a decisive break above 1.37500 would renew our expectation for further upside, with the next key target around 1.38400. We'll be monitoring price action closely to see how it unfolds.

We’ll continue to provide updates on the projected path for GBP/USD as price approaches this target.

The longer-term outlook remains bullish, and we expect the rally to continue extending further from the 1.20991 January low towards 1.40000 and 1.417000.

We’ll be keeping you updated throughout the week with how we’re managing our active ideas. Thanks again for all the likes/boosts, comments and follows — we appreciate the support!

All the best for the week ahead. Trade safe.

BluetonaFX