GBPUSD is showing a decent technical rebound after last week’s sharp selloff, but I still do not see this as a confirmed bullish reversal yet. What stands out to me is that price is currently only recovering toward EMA34 on the H1 chart, while EMA89 above continues sloping downward quite clearly — a sign that medium-term bearish pressure is still present.
After falling aggressively from the 1.3650 area toward nearly 1.3300, the market started attracting dip buyers, helping GBPUSD recover back toward 1.3420. However, looking at the current price structure, this rebound still appears relatively weak and lacks a strong enough breakout to confirm that buyers have fully regained control.
The key zone I’m watching most closely is around 1.3440 – 1.3460. If GBPUSD fails to close firmly above this region, there is a strong chance the market could face renewed selling pressure and move back toward 1.3370, or even retest the 1.3300 area in the coming sessions.
After falling aggressively from the 1.3650 area toward nearly 1.3300, the market started attracting dip buyers, helping GBPUSD recover back toward 1.3420. However, looking at the current price structure, this rebound still appears relatively weak and lacks a strong enough breakout to confirm that buyers have fully regained control.
The key zone I’m watching most closely is around 1.3440 – 1.3460. If GBPUSD fails to close firmly above this region, there is a strong chance the market could face renewed selling pressure and move back toward 1.3370, or even retest the 1.3300 area in the coming sessions.
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