GBP/USD — Sterling on the Offensive 🚀
The pound has extended its winning streak to six consecutive sessions, marking its strongest rally in almost three months. After the Bank of England delivered a rate cut, a rare split in the voting pattern signalled lingering hawkish sentiment among policymakers. Technically, GBP/USD has completed a bullish double-bottom formation near 1.3140 and has broken above resistance at 1.3431, moving beyond its 50-day moving average. The next upside targets are at 1.3587 and potentially 1.3787, while a drop below 1.3344 could weaken momentum.
USD/CHF — Consolidating Near Key Resistance 🧐
USD/CHF remains locked in a tight range, hovering around the 0.8080–0.8100 resistance zone. Price action has been choppy, with quick recoveries from intraday dips keeping the pair stable. Technicals show support near 0.8020, while a breakout above 0.8100 could pave the way to 0.8170. A move below 0.8020 would shift focus toward 0.7910–0.7870.
💡 Strategy Insight
For GBP/USD traders, the technical backdrop supports a bullish bias with potential for further gains if the pair holds above 1.3344. For USD/CHF traders, watch for a clean break of the 0.8100 resistance or a drop under 0.8020 as key trade triggers.
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📊 Key Pairs in Focus: GBP/USD and USD/CHF was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.