GBP/USD, Technical Analysis – H1

The pair is developing a new upward trend swing. A recovery toward the 1.3400–1.3410 area can be expected; however, bulls must first overcome local resistance in the 1.3260 zone, where a short-term technical pullback may develop.

Key Levels:

□ 1.3260 – immediate local resistance

□ 1.3200 – potential pullback support

□ 1.3400–1.3410 – primary upside target

Primary Scenario:

Rise toward 1.3260, followed by a pullback to 1.3200.

Alternative Scenario:

Breakout above 1.3300, targeting further gains toward 1.3400 beyond the current trading session.

Analyst Commentary:

Buyers maintain a dominant positional advantage.