GBPUSD H1 Forecast – Bullish Continuation Under a Weak HighBritish Pound/US DollarFX:GBPUSDHenrybillionGBPUSD H1 Forecast – Bullish Continuation Under a Weak High (Key Levels, Fibonacci Map, EMA + RSI Trade Plans) GBPUSD on the 1H chart remains structurally bullish after a clear CHoCH and multiple BOS steps to the upside. Price is now consolidating just below a marked weak high, which is a classic sign of liquidity building before either a breakout continuation or a deeper retracement into demand. The key for today is to treat this as a bullish market first, and only flip bearish if the CHoCH support band fails on an H1 close. H1 Market Structure Summary Trend shift confirmed earlier by CHoCH, followed by aggressive bullish expansion. Multiple BOS events created a stair-step uptrend. Current phase: consolidation under the weak high (buyers holding, sellers absorbing). Bias: Bullish continuation while price holds above the 1.3460–1.3470 structure band. Key Support and Resistance Levels Resistance (sell-side liquidity and breakout triggers) 1.3520–1.3540: weak high / primary breakout level (main liquidity magnet) 1.3555–1.3565: extension target if 1.3540 breaks cleanly Support (buy zones) 1.3500: intraday pivot (psychological level and consolidation midline) 1.3480–1.3490: first pullback demand (best “buy the dip” area if defended) 1.3460–1.3470: CHoCH / structure flip zone (key hold level for bullish thesis) 1.3360–1.3380: major demand base (higher timeframe reload zone) 1.3300–1.3320: strong low region (trend invalidation territory) Fibonacci Confluence (Most Useful Map Today) Anchor Fibonacci from the swing low around 1.3360–1.3380 to the swing high near 1.3540: 0.382 retracement often lands near 1.347–1.348 (matches your pullback demand area) 0.50 retracement sits near 1.345–1.346 (aligns with the CHoCH band) 0.618 retracement tends to align around 1.342–1.343 (deeper correction zone if momentum fades) This keeps the highest-probability long zones clustered around 1.348–1.346 due to structure + Fibonacci overlap. EMA + RSI Confirmation (Execution Filters) EMA (trend filter) Continuation longs are favored while price holds above the rising EMA cluster (commonly 20/50 EMA on H1). A high-quality dip entry is when price taps into EMA support inside 1.348–1.349 and prints a strong reclaim candle. RSI (momentum filter) Bullish continuation is healthier if RSI holds above 50 during pullbacks. If RSI loses 45 and stays heavy while price closes below 1.346, the market is likely transitioning into a deeper pullback (1.338 becomes realistic). Trade Plans for Today (H1) Plan A – Breakout and Retest Long Above the Weak High Entry idea: H1 close above 1.3540 Prefer a retest of 1.3520–1.3540 holding as support Invalidation: Price closes back below the breakout level and fails to reclaim it Targets: TP1: 1.3555 TP2: 1.3565 TP3: trail if momentum expands and RSI stays strong Best condition: Candle bodies expand on the breakout and RSI pushes/holds above 55–60. Plan B – Buy the Pullback Into 1.3480–1.3490 (Highest Practical R:R) Entry idea: Price dips into 1.3480–1.3490 Trigger on bullish rejection (H1 pin/engulf) or a BOS reclaim back above 1.3500 Stops: Below the demand zone low (technical, not tight) Targets: TP1: 1.3508–1.3520 TP2: 1.3540 TP3: 1.3555–1.3565 if breakout follows through This is the cleaner plan if price remains range-bound and keeps failing to break immediately. Plan C – Deeper Pullback Long at the CHoCH Band (1.3460–1.3470) Entry idea: Only if price flushes lower and taps 1.3460–1.3470 Wait for confirmation: base-building + reclaim of 1.3480 (or a clear H1 bullish reversal) Invalidation: H1 close below 1.3460 with weak reclaim attempts Targets: TP1: 1.3490–1.3500 TP2: 1.3520–1.3540 Bearish Alternative (Only If Structure Breaks) If GBPUSD closes below 1.3460 and retests 1.3460–1.3470 as resistance: Short bias activates toward 1.3380 first Further weakness can drag toward 1.3320–1.3300 This scenario requires confirmation. Do not pre-empt it while the market is still printing higher lows.