GBP/USD Consolidates Above 1.3500 Ahead of UK Labour Market Data

Key Highlights

• GBP/USD staged a solid recovery, breaking above the 1.3520 level.
• A bullish trend line is establishing support near 1.3510 on the 4-hour chart.
• Bitcoin faces stiff resistance around the $64,650 and $65,500 marks.
• EUR/USD gathered momentum, clearing the 1.1580 hurdle.

GBP/USD Technical Analysis

The British Pound found a foothold near 1.3440 against the US Dollar, triggering a fresh advance through the 1.3500 resistance barrier.

On the 4-hour chart, the pair has stabilized above 1.3520, along with the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour). The advance even tested the 1.3565 resistance zone.

Immediate resistance now looms at 1.3580. A decisive break above the next major barrier at 1.3620 could pave the way for a sustained rally toward 1.3700. Further gains would then bring the 1.3750 level into focus.

On the downside, initial support sits near 1.3500, reinforced by a developing bullish trend line at 1.3510. The next significant floor appears near 1.3450, coinciding with the 100 SMA (red, 4-hour). The primary support zone rests at 1.3420 and the 200 SMA (green, 4-hour); a daily close below this region could trigger a decline toward 1.3315, potentially extending to 1.3250.

Turning to Bitcoin, the cryptocurrency must reclaim ground above $64,650 and $65,500 to alleviate bearish pressure and initiate a steady recovery.

Upcoming Key Economic Events:

• UK Claimant Count Change for July 2026 – Forecast 11.2K, versus 6.7K previous.
• UK ILO Unemployment Rate for June 2026 (3M) – Forecast 4.8%, versus 4.9% previous.

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