GBP/USD outlook: Bears take a breather ahead of strong supports at 1.3800 zone

Slobodan Drvenica Windsor Brokers

GBP/USD

Cable bounced on Wednesday after retesting 1.3814 (one-week low posted on Tuesday), as traders took some profits from a four-day drop.

Near-term bears face headwinds from strong bids at 1.3800 zones (1.13814 (Today/Tue lows / 1.3791/86 – lows of June 18/21) but the overall picture remains bearish on daily chart.

Limited correction is seen likely before bears re-take control, as negative momentum continues to rise and daily moving averages are in bearish configuration.

Falling 10DMA offers solid resistance at 1.3891, ahead of 100DMA / daily cloud base (1.3950) which should cap upticks and protect 1.40 breakpoint (psychological barrier, reinforced by falling 20DMA / recent recovery spike high).

Bearish scenario sees clear break of supports at 1.38 zone as a trigger for bearish acceleration towards 1.3670 higher base and rising 200DMA (1.3629) in extension.

Res: 1.3891; 1.3939; 1.3950; 1.3986.
Sup: 1.3814; 1.3786; 1.3715; 1.3670.

Interested in GBP/USD technicals? Check out the key levels

1. R3 1.3948
2. R2 1.3917
3. R1 1.3877
PP 1.3845
1. S1 1.3805
2. S2 1.3774
3. S3 1.3733

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.