Technical Analysis: GBPUSD

GBPUSD returned to the 1.350 mark again

On Monday, GBPUSD rebounded steadily and returned to the 1.350 mark again. It ended up 0.09% at 1.3509.

UK economic growth was strong

The UK was ahead of G7 in terms of economic growth in the first half of 2025. As a result, many institutions raised the forecast for UK economic growth. British Chamber of Commerce increased the forecast for 2025 economic growth from 0.9% to 1.4%, and the BOE (Bank of England) raised it from 0.75% to 1.5%. In addition, the OEDC (Organization for Economic Co-operation and Development) expected that the UK economic growth will be 1.4% in 2025, which is second only to American among G7.

The USDX saw sideways at a low level

On Monday, the USDX saw sideways at a low level. It ended down 0.06% at 98.01.

The bullish market trend prevailed

the Chart of the Day

On the chart of the day, GBPUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that GBPUSD will jump further. Investors should focus on whether GBPUSD will break through the resistance at 1.356. It will rise with potential resistance at 1.362 if it breaks above 1.356.

4-hour Chart

On the 4-hour chart, GBPUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether GBPUSD will break through the support at 1.347. It will rise if it retreats but is stable above 1.347.

Key resistance: 1.356,1.362

Key support: 1.347,1.340

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as GBPUSD retreats in the short term.