GBPUSD: SELL 1.3475, SL 1.3530, TP 1.3420 | 21 Agustus 2025
21 Agustus 2025, GBP/USD
Event to pay attention to today:
20.08 21:00 EET. USD - FOMC Meeting Minutes
GBPUSD:
On Wednesday, the GBP/USD pair fell for the third consecutive day, which is also the fourth day of negative movement out of the previous five, and during the Asian session, it fell to its lowest level in more than a week.
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From a technical point of view, last week's failure to break through the 1.3600 mark led to the formation of a bearish double top chart pattern. The subsequent fall below the 23.6% Fibonacci level of the recent rally from the 1.3140 area, or the lowest level since mid-April reached earlier this month, confirms the likelihood of further losses.
Thus, any further decline is likely to attract some buyers near the 1.3450 support zone, which should help limit the decline of the GBP/USD pair near the 1.3420-1.3415 area, or the 38.2% Fibonacci retracement level.
On the other hand, an attempt to recover above the 23.6% Fibonacci retracement level and the psychological mark of 1.3500 may face some resistance near the overnight high, around the 1.3530 area. A sustained break above this level could lift the GBP/USD pair to the 1.3575-1.3580 barrier, above which bulls could make a new attempt to break through the 1.3600 mark.
Trading recommendation: SELL 1.3475, SL 1.3530, TP 1.3420
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
