GBPUSD stretches again to the outdated highs from 2024 and 2025 | Forexlive

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GBPUSD technicals

The GBPUSD surged to its highest stage since 2022 earlier right this moment, pushed by stronger-than-expected UK CPI information that strengthened hawkish fee expectations. The rally took the pair above each the 2024 excessive at 1.3433 (not proven) and the 2025 excessive at 1.34419, with the advance stalling at 1.34695.

After peaking, the pair pulled again and moved again beneath these multi-year highs. Buyers turned to sellers, and turned the value again towards a swing space between 1.33619 and 1.33784, however discovered consumers forward of the decrease boundary, bottoming at 1.3388.

The worth has rebounded within the early US session, and introduced worth motion again into the resistance zone between 1.3423 and 1.3441 – the outdated highs from 2024/2025.

A second break above this resistance space would sign renewed bullish momentum, particularly if the pair can pierce and maintain above the intraday excessive at 1.34695. Conversely, failure to increase above 1.3441 or a pointy rejection from present ranges may spark additional draw back stress, with merchants eyeing a return to the 1.3378–1.3362 space as the subsequent potential assist zone, adopted by the rising 100 hour MA and the 38.2% retracement each presently at 1.33438.

Key technical ranges:

  • Resistance:

    • 1.34419 – April 2025 excessive

    • 1.34695 – Today’s excessive / highest since 2022

    • 1.3500 – Psychological spherical quantity (watch on breakout)

  • Support:

    • 1.3423 – Lower finish of swing excessive space

    • 1.33619 to 1.33784 – Swing space

    • 1.33438 – 100 hour MA and the 38.2% of the May buying and selling vary.

Bias: Bullish above 1.3441; bearish tilt if worth fails at highs and slips beneath 1.3362.

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