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GBP/USD pushes above 1.3650 as buyers defend key supports
The pair is holding above the 100 and 200 simple moving averages on the 4-hour chart, with first major support seen near 1.3580.
The British pound extended gains versus the US dollar, rebounding off support near 1.3450 and moving above the 1.3580 resistance zone. GBP/USD settled above 1.3600 and traded up to 1.3675 before entering a consolidation phase, according to technical levels cited by Action Forex.
On the 4-hour chart, the pair is positioned above the 100 simple moving average and 200 simple moving average, suggesting underlying bullish momentum. Action Forex identifies immediate downside support near 1.3600 and the 50% Fib retracement, with the first major support at 1.3580.
Further lower support is mapped near 1.3525, while a breakdown and close below 1.3450 could shift attention toward 1.3320, with losses potentially opening a path to 1.3250. On the upside, resistance is flagged near 1.3675, followed by 1.3720, where a close above could set up another steady advance.
Action Forex also notes that gold has broken a $4,620 resistance zone, and that Bitcoin remains elevated, with potential upside toward a close above $80,000. For GBP/USD specifically, the article points to potential targets including 1.3800 and 1.3865 if gains continue.
Latest closeGold $4,432.00 ▲1.6%|Bitcoin $80,478.28 ▲3.5%|GBP/USD 1.354 ▲0.3%