GBPUSD continues the upside momentum. Trades into the upper extreme.

May 6, 2025
-FXnews

The GBPUSD is showing signs of bullish revival after holding firm against a key support zone. Over the past several trading days, the pair repeatedly tested the 1.3259–1.32735 region (marked with red numbered circles on the chart) and held, forming a solid floor

Today’s price action shows a decisive rebound above the 100-bar moving average on the 4-hour chart (blue line, currently at 1.3303) The break above these levels adds to bullish sentiment and shifts the near-term bias to the upside.

The next key hurdle was then broken at the resistance swing area between 1.3362 and 1.3378. With the break, it opens the door for a retest of the year’s high at 1.3441. The 2024 high from September was just below that level at 1.3433. Earlier highs from Arpil reached up to 1.3423 making the 1.3423 to 1.34413 a key area to get to and through.

Support now comes in at:

1.3361 (low of swing area just broken

GBPUSD continues the upside momentum. Trades into the upper extreme.

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