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GBP/USD Price Action – Bulls In Control, More Gains Possible

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Aayush Jindal

Key Highlights

  • GBP/USD extended gains and traded above 1.3550.
  • It cleared a contracting triangle with resistance at 1.3575 on the 4-hour chart.
  • EUR/USD might continue to rise if it clears the 1.1800 resistance.
  • The UK Claimant count could change by 20.3K in Aug 2025.

GBP/USD Technical Analysis

The British Pound started a fresh increase above 1.3500 against the US Dollar. GBP/USD gained bullish momentum above 1.3550 before it faced some resistance.

Looking at the 4-hour chart, the pair remained supported and settled above the 1.3550 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). If the bulls remain in action, there could be more gains.

On the upside, the pair could face resistance near the 1.3620 level. The first major hurdle for the bulls could be 1.3650. A close above 1.3650 could set the pace for another increase.

In the stated case, the pair could rise toward 1.3800, above which the bulls could aim for a move toward 1.3840. Any more upsides could send the pair toward 1.3950.

On the downside, immediate support is 1.3570. The next key area of interest might be near the 1.3550 zone and the 50% Fib retracement level of the upward move from the 1.3490 swing low to the 1.3619 high.

The main support could be at 1.3500 and the 100 simple moving average (red, 4-hour). Any more losses might increase selling pressure and send GBP/USD toward 1.3440.

Looking at EUR/USD, the bulls remained in action, and they were able to push the price above the 1.1750 resistance zone.

Upcoming Key Economic Events:

  • UK Claimant Count Change for Aug 2025 – Forecast 20.3K, versus -6.2K previous.
  • UK ILO Unemployment Rate for July 2025 (3M) – Forecast 4.7%, versus 4.7% previous.
  • US Retail Sales for August 2025 (MoM) – Forecast +0.3%, versus +0.5% previous.
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