GBPUSD Prepares for a New Phase of Bullish Trend as Retracement Ends

Market Analysis – July 22

GBPUSD is positioning for a fresh bullish continuation following the completion of a corrective retracement. Both the price structure and momentum indicators are now aligning to support further upward movement.

GBPUSD Key Levels

‎Demand Levels: 1.32000, 1.27000, 1.23400
‎Supply Levels: 1.34300, 1.38000, 1.41200

GBPUSD Long-Term Trend: Bullish

Since January 2025, GBPUSD has sustained a strong bullish trajectory after reversing from a significant low. The pair has steadily advanced through key resistance levels, most notably breaking above the 1.34300 supply zone as it moved toward the 1.38000 level—demonstrating persistent bullish momentum in the market.

After clearing 1.34300, the price entered a temporary bearish retracement, pulling back to retest the former supply—now acting as demand—zone. This pullback formed a double bottom reversal pattern, indicating the likelihood of a continued bullish trend. Adding to this outlook, the daily Relative Strength Index (RSI) displays rising momentum, reinforcing the bullish sentiment.

GBPUSD Short-Term Trend: Bullish

On the lower time frame, the price has confirmed a bullish structure by forming a higher high following the double bottom pattern. However, the 4-hour RSI has reached overbought conditions, suggesting the possibility of a short-term retracement. A pullback toward the nearby 4-hour order block is expected before the bullish trend fully resumes. This scenario provides a favorable opportunity for traders relying on forex signals to align with the next potential upward move.

Make money without lifting your fingers: Start using a world-class auto trading solution 

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.