Pound Sterling vs Dollar price prediction: Will resistance at $1.3500 give way? GBP/USD consolidates

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Pound Sterling vs Dollar rises 0.03%

Highlights

GBP/USD trades at $1.3471, above MA-20, MA-50, and MA-200, signaling a bullish bias across all major timeframes.
Bullish momentum indicators, including MACD, ADX, and positive Bull/Bear Power, support continued buying interest, with intraday volatility remaining low and upside pressure prevailing.
Expected five-day range is $1.3487 to $1.3494, with over 80% probability of price increase; $1.3500 forms key resistance while $1.3455 acts as pivotal support.

Buyer dominance sustained as momentum strengthens above key support

The nearest significant dynamic level is now provided by the Ichimoku Kijun at $1.3455 as support, with the MA-50 and the $1.3500 round level acting as the next resistance. Momentum is firm, as indicated by bullish MACD and ADX readings on the daily timeframe. RSI and Stochastic RSI do not show overbought or oversold conditions, while the Commodity Channel Index remains neutral, and Bull/Bear Power is positive — reflecting buyer dominance in intraday action. Today’s session opened just above the previous close with low volatility and a stable tone, keeping GBP/USD in the mid-to-upper section of the day’s band.

Further gains favored as volatility tightens and resistance looms

Over the next five trading days, the typical volatility band for GBP/USD is projected between $1.3487 and $1.3494, with a greater than 80% probability of a further price increase as weekly indicators maintain their bullish alignment. Consolidation near current levels within a tight sideways range is the baseline scenario. A firm push above resistance at $1.3500 could trigger additional upward movement, while a clear drop below the Ichimoku Kijun at $1.3455 would open the door to a deeper pullback.

Anton Kharitonov, expert at Traders Union, notes that GBP/USD shows ongoing bullish momentum, supported by strong technical alignment above key moving averages. He sees the current consolidation as stable, but with limited volatility and an absence of news catalysts, upward potential may be capped in the short term. Until $1.3500 is convincingly broken, a cautious stance is warranted. "Base case remains sideways within the projected band — only a clear breakout above resistance changes my view."

Previously it was reported that GBP/USD is consolidating below its short-term moving average but holds above medium- and long-term trend supports, with the Ichimoku Kijun acting as immediate resistance. Momentum and oscillator signals are mixed, indicating potential for continued range-bound movement with a cautious bullish bias unless a clear breakout or breakdown occurs.

Source of Data: GBP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.