GBP/USD Price Analysis: Bulls struggle to keep gains above 1.3430

Omkar Godbole FXStreet Contributor

GBP/USD is trading largely unchanged on the day near 1.3413 at press time, having faced multiple rejections above 1.3430 in the past nine hours.

The struggle to keep gains above 1.3430 has weakened the immediate bullish case put forward by the 4-hour chart sideways channel breakout confirmed on Tuesday.

As such, a re-test pf 1.3398 – the upper end of the sideways channel – could be in the offing. A bounce from that level would revive the case for a rally to 1.3483 (Sept. 1 high).

Alternatively, acceptance under 1.3398 would shift risk in favor of a drop to 1.3285 (Nov. 27 low).

4-hour chart

Trend: Neutral-to-bearish

Technical levels

GBP/USD

Overview
Today last price	1.3413
Today Daily Change	-0.0006
Today Daily Change %	-0.04
Today daily open	1.3427

Trends
Daily SMA20	1.3249
Daily SMA50	1.3066
Daily SMA100	1.3037
Daily SMA200	1.2733

Levels
Previous Daily High	1.3442
Previous Daily Low	1.3316
Previous Weekly High	1.3398
Previous Weekly Low	1.3264
Previous Monthly High	1.3398
Previous Monthly Low	1.2854
Daily Fibonacci 38.2%	1.3394
Daily Fibonacci 61.8%	1.3364
Daily Pivot Point S1	1.3348
Daily Pivot Point S2	1.3268
Daily Pivot Point S3	1.3221
Daily Pivot Point R1	1.3474
Daily Pivot Point R2	1.3521
Daily Pivot Point R3	1.3601

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.