GBP/USD Price Analysis: Bulls are making a mark on the H1 chart

GBP/USD bears need a break of 1.1750 or face continued [presence from the bulls.#
The bulls are attempting to correct through near-term hourly resistances.

Ross J Burland FXStreet

GBP/USD bulls have sprung to life as the US dollar is faded across the board. The pair has been in a strong downtrend of late and the following illustrate the prospects of a bullish correction on the weekly chart, although leaves the door open for a move lower from an hourly basis also.

GBP/USD weekly chart

The M-formation on the weekly chart is a reversion pattern that would be expected to see the price drawn into the neckline, or thereabout, in due course. The tide is with the bear overall, however, so the 38.2% Fibonacci could well be the spot where bears could reemerge from.

GBP/USD H1 chart

The price is penetrating near-term resistance on the hourly chart, which tips the balance over to the bulls, for now. However, should the bulls fail to close above there, then this will open prospects of a move lower yet again, as illustrated. A break of 1.1750 will be key in such a scenario.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.