GBP/USD Resistance Breakout | Ride the Next Wave HigherGreat British Pound / US DollarVELOCITY:GBPUSDThe-ThiefGBP/USD "THE CABLE" 📈 Professional Trader's Trade Plan 🚀 Asset: GBP/USD (The Cable) - Forex Market 🏦 Timeframe: 1H / 4H / Daily (Swing & Day Trading) ⏰ Bias: BULLISH 🐂 (Breakout Confirmation Required) 📊 The Grand Plan The Cable is currently dancing around the critical 1.3470 level after a three-day winning streak . Price action suggests we're at a "Make or Break" moment near the psychological 1.3500 barrier . Our strategy is simple: Wait for the Breakout, Ride the Wave! 🌊 🚀 Entry Strategy Entry Trigger: Aggressive Entry upon a decisive 4H candle CLOSE ABOVE the Resistance Level @ 1.35300 Pro Tip: Wait for the retest! A clean break and retest of 1.3530 as new support is the safest entry for the Thief OG's looking for high probability . 🎯 Target Levels (Take Profit) Target 1 (Day Traders): 1.36000 🏃♂️ Swing Traders: Secure partial profits here! This zone often acts as a psychological magnet. FINAL TARGET (Swing): 1.36500 🚀 Warning: This zone is anticipated to host Police Force (Strong Resistance) 🚨. Overbought conditions + potential trend exhaustion = TIME TO ESCAPE WITH BAGS OF CASH! 💰 🛡️ Shield (Stop Loss) Thief SL: 1.34500 (Below the breakout zone & recent swing low) ⛔ ⚠️ DISCLAIMER (The OG Disclaimer): Dear Ladies & Gentlemen (Thief OG's), I am NOT recommending you set only my TP or SL. Its your own choice! You can make money, then take money at your own risk. My analysis is just the map; you drive the car! 🏎️ 🔗 Correlated Pairs to Watch (The Matrix) 🕵️♂️ Understanding correlations is key to confirmation! EURUSD (The Euro) Correlation: Strong Positive (~0.85+) . Key Point: If EUR/USD is also breaking resistance, it confirms USD weakness and validates our GBP/USD bullish bias. Watch for the "USD Sell-off" vibe. USDJPY (The Safe Haven) Correlation: Strong Negative (~ -0.96) . Key Point: If USD/JPY is falling (Yen strengthening), it suggests "Risk-Off" sentiment, which is bad for GBP/USD. However, if Oil is dropping and risk is on, USD/JPY should rise, giving us a "Sell USD" signal. AUDUSD (The Risk Barometer) Correlation: Positive (Risk-On proxy) . Key Point: The Aussie often leads the charge during Risk-On sentiment. If AUD/USD is rallying, it's a green light for GBP/USD longs! 📰 LIVE Market Feed (Fundamentals & Economics) 🔥 Current Price Action: GBP/USD trading at ~1.3470 (As of Aug 3, 2026, Asian/European Session) . Fundamental Drivers: 🇺🇸 US-Iran Diplomacy: The market had a brief flirtation with Risk-On as Trump claimed Iran requested more time for negotiations regarding the Strait of Hormuz. However, Iran swiftly denied this calling it a "new lie" . This means Geopolitical tension is still simmering, supporting the USD as a safe haven, but also keeping Oil prices volatile. Lower Oil prices generally help the USD, but the volatility creates choppy waters. 🇬🇧 Bank of England (BoE) "Hawkish Softening": The BoE voted 6-3 to hold rates at 3.75% . The Twist: Governor Andrew Bailey signaled that "inflation is not as bad as we thought," leading markets to slash expectations for a September rate hike from 60% to 30% . This is capping GBP strength despite a weaker USD! 🛢️ Crude Oil: Oil prices are falling significantly due to the (uncertain) hopes of a US-Iran ceasefire . This is a double-edged sword: It boosts Risk-On sentiment (equities up, S&P 500 futures +0.6%) but can weigh on Oil-exporting currencies. Bottom Line: The market is driven by a tug-of-war between Geopolitical Tension (USD support) and Risk-On Sentiment (GBP support). The break of 1.3530 will show who wins! 🥊