The GBP/USD rally is displaying indicators of fatigue close to main resistance at 1.3430–1.3500, with momentum fading and key assist at 1.3230 now below shut watch, Société Générale’s FX analysts observe.
Momentum fades as MACD turns decrease
“GBP/USD up transfer has stalled on the peak of final yr and the higher restrict of an ascending channel drawn since 2023 close to 1.3430/1.3500. Each day MACD has dipped beneath its set off line highlighting receding upward momentum. A quick pause is taking form after this take a look at.”
“Latest pivot low of 1.3230 is prone to be an vital assist. If that is breached, GBP/USD may embark on a deeper down transfer in the direction of March excessive at 1.3070/1.3010. Overcoming 1.3500 could be essential to verify a bigger uptrend.”
