On the hourly chart, GBPUSD is maintaining its upward potential with a consistent uptrend structure. The price action is continuously establishing higher highs and higher lows, reflecting that the buyers remain dominant and unweakened, while the price remains stable along its upward trajectory. As long as this structure is intact, selling pressure is considered limited and not strong enough to reverse the short-term trend, especially with the US session approaching tonight.
From a technical perspective, the bullish bias is further confirmed by the rising Moving Average and the ZigZag indicator that consistently forms an uptrend pattern. Additional support comes from the CCI, which is starting to recover from the oversold zone, signaling a return of buying momentum. This combination of signals opens up opportunities for GBPUSD to continue its upward movement and test higher price levels as volatility increases in the US session tonight.
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Meanwhile, on the 15-minute chart, GBPUSD shows signs of continuing strength after successfully breaking through the upper boundary of the symmetrical triangle, indicating potential continued upward trends. Technical confirmation is observed with the Moving Average trending up and the ZigZag forming an uptrend once again, affirming the buying momentum dominance. With this support, GBPUSD has the potential to continue rising to test the resistance area at 1.34810 soon, especially during the US session tonight.
Technical Reference: Buy while above 1.33295
Potential Take Profit 1: 1.33955
Potential Take Profit 2: 1.34115
Potential Stop Loss 1: 1.33425
Potential Stop Loss 2: 1.33295
