Lihat juga
09.07.2026 05:52 AM
The GBP/USD pair continued its upward movement on Wednesday based on technical grounds. As we have already mentioned, the last rise in the US dollar was neither justified nor logical, so the current growth of the British currency, without visible local reasons, is considered completely justified. In any case, until the price consolidates below the trendline, it is premature to talk about a new decline of the pair. There are very few economic events scheduled for this week, and all the most important ones have already occurred. On Monday, the ISM Services PMI for the US was published, which was the "most important event of the week." The new escalation in the Middle East was ignored by the market, which no longer pays attention to the ongoing "swings" in relations between Iran and the US. The British pound will move entirely based on technical factors for the rest of the week. The Federal Reserve's minutes also did not evoke any market emotion.
On the 5-minute timeframe, three good buy signals were formed on Wednesday. During the European trading session, the price bounced twice from the 1.3319-1.3331 area; these signals were duplicated, so only one long position needed to be opened. During the American session, the price exceeded the 1.3380-1.3386 area, allowing traders to hold long positions. Closing them now would yield a profit of about 50 pips.
On the hourly timeframe, the GBP/USD pair continues to form an upward trend, which is currently corrective but could become a full-fledged trend if the market starts to pay attention to all the factors. The conflict in the Middle East, if not completely resolved, is on pause, and the Fed has only declared a possible rate hike by the end of the year, which may or may not happen. We believe that the market has already priced in all factors for the US currency's growth.
On Thursday, novice traders can open short positions if the price consolidates below the 1.3380-1.3386 area, targeting 1.3319-1.3331. A price bounce from the area of 1.3380-1.3386 will allow for new longs targeting 1.3456-1.3476.
On the 5-minute timeframe, trading levels to consider are 1.3043, 1.3096-1.3107, 1.3175-1.3180, 1.3259-1.3267, 1.3319-1.3331, 1.3380-1.3386, 1.3456-1.3476, 1.3587-1.3598, 1.3631-1.3641, and 1.3695. No important events are scheduled in the UK for Thursday, and in the US, only secondary reports will be released, which the market is unlikely to pay attention to. Therefore, movements today will once again be technical.
Price levels (areas) of support and resistance are targets when opening long or short positions or sources of signals.
Red lines indicate channels or trend lines that display the current trend and indicate the preferred direction for trading.
The MACD indicator (14,22,3) – histogram and signal line – is a supplementary indicator that can also be used as a source of signals.
Important speeches and reports (contained in the news calendar) can significantly impact the movement of the currency pair. Therefore, during their release, trading should be conducted with maximum caution, or one should exit the market to avoid sharp reversals against preceding movements.
Beginners trading in the forex market should remember that not every trade can be profitable. Developing a clear strategy and practicing money management are key to long-term success in trading.
