GBP/USD – Technical Analysis (H1)
GBP/USD has tightly approached the 1.3530 supply zone, where we previously recommended selling the pound. A pullback toward 1.3500 and then 1.3440 remains the higher-probability scenario.
Price has moved right up to the supply zone at 1.3530, from which we previously recommended selling the British pound. This recommendation remains fully valid: there is a high probability of a corrective move down toward the 1.3500 area and subsequently 1.3440.
Key Levels:
- 1.3530 – supply zone / sell area
- 1.3500 – intermediate downside target
- 1.3440 – primary downside target
- 1.3580 – breakout level (invalidates shorts)
Primary Scenario:
Test of the 1.3530 zone, followed by a reversal lower toward 1.3500 and then 1.3440.
Alternative Scenario:
Invalidation of the short signal and a breakout toward 1.3580.
Analyst Commentary:
Risks for the bears remain relatively limited.
The trade levels, signals and forecasts in this article are calculated automatically from technical indicators and price history. They are not investment advice or a recommendation to buy or sell any financial instrument. Past performance and forecasts do not guarantee future results. Risk Warning: CFDs are complex financial products traded on margin. Trading CFDs is risky and may not be suitable for all investors. Ensure you understand the risks involved as you may lose all your invested capital.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.
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