GBP/USD – Tuesday, July 22, 2025.
GBP/USD remains in a bullish condition, although a downward correction is possible. However, as long as the temporary weakness does not break below its Support 2, then cable still has the potential to continue its strengthening.
Key Levels
1. Resistance 2: 1.3574.
2. Resistance 1: 1.3531.
3. Pivot: 1.3466.
4. Support 1: 1.3423.
5. Support 2: 1.3358.
Tactical Scenario
Positive Reaction Zone: If the GBP/USD price successfully breaks through and closes above 1.3531, it will confirm that the strengthening will continue to 1.3574.
Momentum of Bias Extension: If the 1.3574 level is successfully broken through and closes above it, cable has the potential to continue strengthening to 1.3639.
Invalidation Level / Bias Revision
Upside bias weakens when the GBP/USD price reverses downwards and weakens until it breaks through and closes below 1.3358.
Technical Summary
EMA(50): 1.3469.
EMA(200): 1.3477.
RSI(14): 49.47.
Economic News Release Agenda:
The pressure on the greenback due to trade tariff tensions and the Fed's dovish stance, coupled with global optimism towards risk assets, has created positive sentiment for cable today.
This afternoon at 4:15 PM WIB, BOE Governor Bailey will speak.
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