The GBPUSD currency pair traded at 1.35045 early Friday, extending Thursday’s decline after a week of growth. Сurrent market dynamics suggest a correction and the pair’s consolidation within an ascending channel.
An analysis of technical indicators confirms the current trend. The Stochastic Oscillator (5, 3, 3) on the D1 timeframe shows %K near 9 and %D close to 16, indicating an oversold zone. The indicator lines do not intersect, but their positions hint at a possible stabilization once the correction completes. At present, slower line movement suggests a deceleration of the downtrend and a potential shift in market forces benefiting buyers.
The MACD (12, 26, 9) on the same timeframe shows a weakening uptrend. The bar chart is shrinking in size but remains positive. The MACD line is above the signal line, confirming continued bullish momentum, albeit weakened. The indicator chart reflects that the distance between the lines is slowly decreasing, which matches with the overall correction pattern.
The short exponential moving average (EMA 20) is at 1.35121, while the EMA 50 is at 1.35004. The price is currently trading below both moving averages but remains near the EMA 50, indicating a potential test of the key support level.
According to a scenario for the next seven days, the market is expected to rebound after the current correction. The key support level confirming this forecast is the EMA 50. If the price holds above this mark by the end of the day, a retest of the EMA 20 may follow, with further growth toward 1.37500.
If this scenario plays out, positions at the current price could be opened with a target of 1.36750, with a Stop Loss at the level of 1.33650.
The forecast is relevant from 07/25/25 to 08/01/25.
This content is for informational purposes only and is not intended to be investing advice.
