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GBPUSD on the H4 timeframe continues to exhibit a bearish structure despite the earlier trendline breakout. Price remains below the EMA50 and EMA100, indicating that selling pressure persists. The 1.325–1.327 zone acts as a key support; a breakdown could push the pair toward 1.316–1.318. Conversely, a move above 1.332–1.335 may trigger a recovery toward 1.346–1.348, where the potential formation of a bullish structure will be tested.
On the H4 timeframe, GBPUSD has broken above the descending trendline; however, the overall structure remains unchanged as the pair continues to form lower highs and lower lows. This suggests that the broader bearish trend is still intact, and the recent rebound is largely corrective in nature.
Despite breaking the descending trendline, GBPUSD continues to trade below the EMA50 and EMA100 while maintaining a lower high–lower low structure, suggesting that the bearish trend still dominates and recent rebounds are likely corrective rather than signaling a true reversal.
At the same time, price is still trading below both the EMA50 and EMA100, reinforcing the ongoing downside pressure in the medium term. The inability to reclaim these moving averages indicates that bullish momentum remains limited.
In the latest price action, GBPUSD has pulled back after testing the resistance zone combined with the EMA100 around 1.332–1.335 and is currently trading near the support area at 1.325–1.327. This zone is key in the short term and will likely determine the next directional move.
If price breaks below this support, selling pressure may accelerate, pushing the pair back toward the previous low around 1.316–1.318. On the other hand, if buyers step in and drive a breakout above the 1.332–1.335 resistance, GBPUSD could extend its recovery toward the next key resistance at 1.346–1.348. A confirmed break above this level would signal the early formation of a bullish structure and a potential shift toward a broader recovery phase.
02.04.2026
GBPUSD
(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)
Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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