GBPUSD H3: Rising Channel Continues to Support Price

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GBPUSD H3: Rising Channel Continues to Support PriceGBP/USDOANDA:GBPUSDMarcus_lawsonGBPUSD continues to maintain a fairly clear bullish structure on the H3 timeframe, with price trading steadily inside a rising channel. Recent lows are still forming higher, while price remains above both EMA34 and EMA89, indicating that buyers continue to hold the short-term advantage. Following the recent rally, I expect GBPUSD may see a mild pullback toward the 1.3475–1.3490 area, near EMA34 and the lower half of the channel. If this zone continues to hold, buying pressure could return and push GBPUSD toward the 1.3550–1.3553 area, which also aligns with a notable resistance zone above. The bullish scenario would weaken if price breaks clearly below the lower boundary of the channel and holds beneath 1.3470. In that case, the short-term bullish structure would need to be reassessed. This scenario reflects my personal market assessment only. Please make your trading decisions based on your own analysis. Wishing you successful trading!