GBPUSD technicals
The GBPUSD has pushed back above the key swing area between 1.36158 and 1.36330, reclaiming bullish momentum after yesterday’s failed breakout to a new 2025 high. That prior high at 1.36477 now becomes the next upside target. A break above it would take the pair to its highest level since January 2022.
Support on the downside was reaffirmed today when the decline stalled at the swing zone between 1.35804 and 1.35919, where buyers stepped back in to defend the dip. The bounce from that area and reclaiming of old resistance reinforces the bullish bias.
Holding above 1.36158–1.3633 keeps the focus on retesting and potentially breaking above the 2025 peak. A failure to hold that zone would shift the focus back to lower support levels.
The next target on a move above the high from yesterday?
1.37683. That level is the 50% midpoint of the move down from the July 2014 high to the October 2022 low.
Key levels:
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Resistance: 1.36477 (2025 high), then open space toward Jan 2022 highs
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Support: 1.36158–1.36330 (broken swing ceiling), 1.35804–1.35919 (swing low support)
The bulls are back in control above the old ceiling, but need a sustained break above 1.36477 to extend the rally further.
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