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GBPUSD, Time frame: 4H, Source: TradinviewGBP/USD continues to trade within a shallow rising channel, reflecting a corrective recovery phase after the sharp selloff from the 1.3400-1.3450 distribution zone. Price action has formed a short sequence of higher lows, but the broader structure remains fragile as the pair continues to trade below the previous high-volume area.
Channel Support
The price is currently trading around the 1.3215-1.3220 area, holding just above the lower boundary of the rising channel. This keeps the short-term recovery structure alive, although buyers still need to defend the 1.3200 region to prevent a deeper breakdown. A sustained move below this zone would suggest that bullish momentum is weakening.
A Reclaim Above Resistance Could Open the Door to Further Gains
The first key resistance level sits around 1.3250, followed by the 1.3280-1.3300 region near the upper boundary of the channel. Should GBP/USD successfully reclaim these levels and establish sustained acceptance above them, the recovery could extend further toward 1.3350, with the larger volume-profile resistance near 1.3400-1.3407 acting as the next major upside target.
Channel Support Continues to Protect the Recovery
On the downside, the 1.3200-1.3215 area remains the critical support zone for buyers, having helped protect the short-term recovery structure. As long as the price remains above this region, the ascending channel remains intact. A break below 1.3200 would weaken the setup and expose 1.3150-1.3160 as the next demand area.
Momentum Remains Weak
The Relative Strength Index (RSI) is currently hovering around 38-39, showing that bullish momentum remains limited. The RSI is still below the neutral 50 level, meaning buyers have not yet confirmed stronger control. A move back above 45-50 would be needed to support a cleaner recovery.
Technical Outlook
The short-term bias remains cautiously constructive while GBP/USD trades above channel support. Nevertheless, the 1.3200 region remains the key technical level for buyers, with a sustained break below this area likely to shift momentum lower, while a reclaim above 1.3250 could revive recovery attempts in the sessions ahead.
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