DeGRAM | GBPUSD — Bull Flag Targets 1.3420GBP/USDOANDA:GBPUSDDeGRAM📊 Technical Analysis ● GBPUSD has already made a strong recovery from the 1.3140 area, gaining more than 200 pips before entering the current consolidation. Price is now forming a bull flag, with a rising support line underneath and descending resistance containing the correction. The structure suggests accumulation rather than a fresh impulsive move. ● The strongest technical feature is the confluence of the rising support around 1.3310–1.3320 and the upper flag resistance around 1.3350–1.3360. Current statistics remain strongly bullish: Investing.com shows Strong Buy, with 12 of 12 moving averages and 9 of 9 technical indicators on Buy. RSI is around 61, while Stochastic RSI and Williams %R are already overbought. ● The preferred scenario is a brief pullback into the support area, followed by a breakout from the bull flag. A confirmed break above the strong resistance line would open the way toward the 1.3400–1.3420 target zone. The setup is continuation-focused because the pair has already completed the initial recovery leg. 💡 Fundamental Analysis ● Sterling entered the week with a stronger fundamental backdrop after UK economic data beat expectations. August GDP grew 0.1% instead of contracting, while three-month output rose 0.7%, reinforcing expectations that the Bank of England could raise rates in November. ● On Monday, GBP benefited from improved confidence in the UK's fiscal outlook and strong domestic data. Sterling reached a 17-month high against the euro, while GBPUSD held near 1.33 despite a broadly firm dollar. ● The US side is also becoming less supportive for the dollar. Fed officials are discussing the inflation impact of the AI investment boom, but the Fed is widely expected to hold rates at the October meeting. At the same time, AI-related market concerns have recently pushed investors toward Treasuries, weighing on yields and reducing some of the dollar's advantage. ✨ Summary ● GBPUSD has already completed a strong recovery and is now consolidating inside a bull flag above rising support. With all major technical averages and indicators currently bullish, the preferred path is support holding near 1.3310–1.3320, followed by a breakout above 1.3350–1.3360 and continuation toward 1.3400–1.3420. Share your opinion in the comments and support the idea with a like. Thanks for your support!