$GBPUSD
GBPUSD forms a bullish cup pattern – eyeing 1.3247 as next key target
The GBPUSD has recently completed a classic “cup” formation on the 4-hour chart, suggesting a potential shift in momentum after weeks of downside pressure. The pair found strong support near the 1.2970 area before recovering steadily, confirming a rounded bottom pattern. This setup typically indicates an accumulation phase, where buyers gradually gain control and prepare for a new bullish leg. Current price action around 1.3139 shows higher lows and improving momentum, supported by rising volume and a bullish crossover on the stochastic oscillator.
If momentum continues, the first major upside target lies near 1.3247, aligning with the lower boundary of the Fair Value Gap (FVG) zone — a region where price previously moved sharply without building trading volume. Filling this gap could attract more buyers toward the 1.33 level in the medium term. However, failure to hold above 1.3070 may invalidate this setup. Traders should watch for confirmation candles before entering long positions.
#GBPUSD #Forex #TechnicalAnalysis #FVG
... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
We use our own and third-party cookies on our websites to enhance your experience, analyze traffic, and for security and marketing. For more info, see our Cookie Policy or go to Manage Settings.
Privacy Preference Center
When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.
More information
Manage Consent Preferences
Strictly Necessary Cookies
Always Active
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Cookie List
label
ConsentLeg.Interest
label
label
label
Mon Aug 17 2026 11:44:07 GMT+0000 (Coordinated Universal Time)
