GBPUSD: Bullish Breakout Targets Key Resistance – Technical Momentum Signals Trading Opportunity

Over the past three trading days, GBPUSD has demonstrated clear volatility with a sharp upward bias, climbing towards the 1.31349 region—firmly above yesterday’s closing level. Despite a lack of high-impact news headlines, recent UK economic data and shifting US inflation expectations have been swiftly priced in, sparking stronger demand for the pound. For active traders, this week’s price action has felt like a tug-of-war: profits realized in the surge, but also wariness that any failure to break higher could lead to a swift retracement. So far, bullish technicals are in control, but the current GBPUSD price analysis hinges critically on whether buyers can decisively clear overhead resistance zones. Prudent risk management is a must as momentum builds.

Daily Chart

The daily chart shows GBPUSD reinforcing a bullish channel over the last 5-20 sessions. The pair has posted five consecutive bullish closes, holding consistently above the 20-day moving average. Bollinger Bands are widening, suggesting increased volatility and further upside. MACD remains bullish, with growing positive bars. Most notable is a recently completed bull flag pattern, now fueling a fresh rally toward 1.317 resistance, keeping short-term bulls fully in control.

1H Chart

On the hourly timeframe, GBPUSD spent the past 3-5 days repeatedly testing the 1.314–1.316 resistance zone while consistently attracting strong bids at 1.308–1.310. A mini bull flag has emerged over the last dozen candles, with MACD now in a bullish crossover and momentum expanding. Bollinger Bands are flaring upward, pointing to sustained upside pressure. The most recent candle—a long lower wick bullish bar—shows buyers aggressively defending dips, keeping the immediate outlook positive.

Technical Trend: Decisively bullish with a tendency for sharp, short-term breakouts.

Over the past day, GBPUSD printed a clear hammer pattern on the hourly chart coupled with strengthening MACD momentum, hinting at continued upside in the next 24 hours. The flag breakout on the daily chart supports the bullish view, but traders should monitor a clean breakout above 1.317 for potential acceleration, or prepare for a pullback toward 1.310 if resistance holds firm.
Resistance & Support
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