The GBPUSD is pushing to a new session high, testing its 100-day moving average at 1.33489 in the process. Last week, the pair slipped below this level with momentum on Wednesday, while Tuesday’s drop under the same line failed to sustain further downside. The 100-day MA remains a critical barometer for bullish or bearish bias— moving above it would tilt sentiment more bullish, while sellers will aim to defend this area and force a rotation back to the downside.
Just above the 100-day MA sits a swing area between 1.3360 and 1.3378, aligned with the falling 100-bar moving average on the 4-hour chart. Buyers will need to reclaim and hold above this zone as well to build confidence in a sustained move higher.
In the buyers’ favor, is that last week’s low stalled near the May 12 low and the 38.2% retracement of the 2025 trading range at 1.13426, providing solid technical support for the bounce.
However, the real test is happening now—the rubber meets the road at the 100-day moving average. Will the buyers win and attack the next target? Or will the sellers lean and ultimately make another run at the 38.2% retracement at 1.13426.
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