GBPUSD Rebounds After Testing 1.3400 Support – Eyes New HighsGBP/USDOANDA:GBPUSDEmmaChartistHello everyone, GBPUSD has been showing notable short-term volatility. After reaching 1.3450 and facing profit-taking pressure, the price pulled back to around 1.3420 but maintained its bullish structure. Key FVG zones around 1.3420–1.3400 continue to display strong buying interest, suggesting these areas could serve as a solid base for the next upward move. On the charts, GBPUSD remains positive as it trades above the Ichimoku cloud – reinforcing the ongoing uptrend. The current correction is primarily technical, allowing the price to retest cloud support before potentially bouncing higher. From a news perspective, the US dollar is under pressure as the US government enters its second day of shutdown, heightening uncertainty and weighing on economic confidence. This encourages investors to shift towards other assets, including GBP. Additionally, the UK economy shows signs of stability with some positive macro indicators, while the Fed maintains a cautious stance, further reducing the USD’s appeal. If upcoming US labour data disappoints, the pound could benefit even more. The preferred scenario is GBPUSD holding the 1.3400–1.3420 support area before resuming its upward momentum, targeting 1.3450 initially, followed by 1.3500 and 1.3550. What are your thoughts on GBPUSD in the near term? Share your views in the comments!