GBP/USD slipped to 1.3304 after last week’s jump to 1.3371, but the pair continues to find support. With momentum indicators flattening and overbought conditions still in play, near-term price action is expected to remain range-bound. The current trading band is seen at 1.3285 to 1.3335, following a tighter move between 1.3300 and 1.3348 after guidance for 1.3290 to 1.3360.
Short-Term Technical Outlook
GBP/USD slipped to 1.3304 after last week’s jump to 1.3371, but the pair continues to find support. With momentum indicators flattening and overbought conditions still in play, near-term price action is expected to remain range-bound. The current trading band is seen at 1.3285 to 1.3335, following a tighter move between 1.3300 and 1.3348 after guidance for 1.3290 to 1.3360.
Medium-Term Directional Bias
Over a 1–3 week horizon, the outlook retains an upward bias after the pair cleared 1.3315 and extended to 1.3371. A further push towards 1.3405 remains on the table, but it is conditional on GBP holding above strong support at 1.3260. The assessment frames recent gains as intact, so long as that floor is not broken.
Start trading now — click here to create your real VT Markets account.
