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GBP/USD pauses below 1.3500 as buyers eye 1.3600

The outlook hinges on whether GBP/USD clears the July 15 swing high at 1.3558, which would aim for 1.3600, while staying below 1.3500 risks a drop toward 1.3417.

Reported · Written up by our desk · Major Pairs

FXStreet says GBP/USD is edging higher by about 0.29% on Friday, but remains stuck in a sideways consolidation after failing to decisively break above 1.3500.

The pair recently topped out near 1.3509, then slipped toward the 1.3490 area. FXStreet notes GBP/USD is slightly tilted to the upside after clearing the 200-day SMA near 1.3406.

Technically, FXStreet points to a potential uptrend restart if buyers reclaim the July 15 swing high at 1.3558, which could open the door to a retest of 1.3600. It also flags a further upside level at the May 11 swing high near 1.3653, followed by 1.3700.

On the downside, FXStreet says a sustained move below 1.3500 could lead to a pullback toward August’s 3 low at 1.3417, and then to the area where the 100- and 200-day SMAs converge around 1.3406 to 1.3405, with additional support near the 50-day SMA at 1.3365.

Latest closeGBP/USD 1.323 ▼0.3%

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