Hello traders, after a sharp and impressive rally, GBP/USD is now entering a consolidation phase, hovering around 1.3475. This zone highlights the current tug-of-war between bulls and bears as the market cools down after an extended climb.
On the 4-hour chart, several Fair Value Gaps (FVGs) can be seen near 1.3450–1.3470, which might be filled before the next directional move. The 1.3500 level remains a critical resistance area to confirm further upside potential, while 1.3400 serves as strong support — a break below could trigger a deeper pullback.
In the news, all eyes are on ECB President Christine Lagarde’s upcoming speech (October 7), which could spark volatility depending on her stance regarding inflation and monetary policy. Any hawkish tone could support the Euro and indirectly influence GBP/USD. Meanwhile, France’s trade balance data could add short-term volatility to European currencies.
Do you think this correction is just a short pause before another rally — or the start of a more meaningful reversal?
On the 4-hour chart, several Fair Value Gaps (FVGs) can be seen near 1.3450–1.3470, which might be filled before the next directional move. The 1.3500 level remains a critical resistance area to confirm further upside potential, while 1.3400 serves as strong support — a break below could trigger a deeper pullback.
In the news, all eyes are on ECB President Christine Lagarde’s upcoming speech (October 7), which could spark volatility depending on her stance regarding inflation and monetary policy. Any hawkish tone could support the Euro and indirectly influence GBP/USD. Meanwhile, France’s trade balance data could add short-term volatility to European currencies.
Do you think this correction is just a short pause before another rally — or the start of a more meaningful reversal?
Trade closed: target reached
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Trade Gold, Forex, Bitcoin – the market moves fast, grab your edge today!
👉🏻Join here: t.me/+jBAj1Jdf4vY1NzM1
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.