GBPUSD Poised For Sustained Growth With Technical Momentum Signals

Market Analysis – June 2

GBPUSD is poised for sustained growth, supported by technical indicators that reflect strong upward momentum. The 9-period Simple Moving Average (SMA) currently sits below the price at approximately $1.3470, acting as dynamic support and reinforcing the prevailing uptrend. The Stochastic Oscillator is at 71.24, indicating solid but not overextended bullish momentum, with the %K line positioned above the %D line, suggesting continued interest from buyers. Traders are likely to interpret this as a favorable environment for long positions.

GBPUSD Key Levels

Supply Levels: $1.3440, $1.3800, $1.4000
Demand Levels: $1.3050, $1.2710, $1.2100

GBPUSD Long-Term Trend: Bullish

The daily chart reveals a well-established bullish structure. A previous Change of Character (CHoCH) near $1.3050 marked a significant shift from a bearish to bullish trend earlier this year. Since then, the market has consistently formed higher highs and higher lows, reflecting institutional buying that has pushed price through short-term resistance levels.

Looking ahead, GBPUSD is well-positioned for continued upward movement as long as it remains above the $1.3440 level. A short-term dip below this demand zone may offer an optimal entry opportunity for those targeting the $1.3800 and potentially the $1.4000 psychological level. Many traders relying on forex signals may find these retracement levels suitable for aligning entries with the broader trend. The overall bullish structure remains intact, and any corrective move into demand zones is likely to attract renewed buying interest.

GBPUSD Short-Term Trend: Bearish

In the short term, GBPUSD has broken below its rising trendline, signaling weakening bullish momentum. The price is now trading beneath the 9-period SMA, confirming a temporary shift in favor of sellers.

The $1.3520 level acted as a solid resistance, creating a double-top formation that led to rejection. If the price fails to hold above $1.3440, a move toward $1.3300 becomes increasingly probable.

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