GBPUSD Trendlines and Fibonacci Update
· Forex · QuoteReporter
GBPUSD Trendlines and Fibonacci Update
Published: February 05, 2026
Technical Analysis
1. Market Overview:
The GBP/USD pair is currently trading at 1.3582, showing a positive trend across all moving averages. The currency pair has been experiencing an uptrend in the short, medium, and long-term, indicating a strong bullish momentum in the market.
2. Trend Analysis:
The short-term trend, denoted by the 21-day moving average (MA21) at 1.35598, is above the current price, indicating a bullish sentiment. Similarly, the medium-term trend (MA50) at 1.34587 and the long-term trend (MA200) at 1.34245, are also above the current price, reinforcing the bullish sentiment.
3. Support and Resistance Analysis:
Support 1 at 1.35779, the closest to the current price, could potentially act as a strong floor preventing the price from dropping further. Support 2 and Support 3 are at 1.34143 and 1.29434 respectively, which could be the next levels of support if the price falls below Support 1.
The nearest resistance level (Resistance 1) is at 1.38715. If the price breaks this level, it could suggest a continued uptrend towards Resistance 2 at 1.39637 and Resistance 3 at 1.41137.
Given the current price movement and trends, Resistance 1 and Support 1 are the most critical levels for traders to watch.
4. Fibonacci Level Analysis:
The current price is slightly above the 23.6% Fibonacci retracement level, which now acts as a support. If the price falls below this level, the next significant support would be at the 38.2% retracement level at 1.33674.
5. Overall Technical Outlook:
The overall technical outlook for the GBP/USD pair is bullish. This is based on the currency pair trading above its short, medium, and long-term moving averages, and the current price being above the 23.6% Fibonacci retracement level. Given this, traders should watch for potential breaks above the nearest resistance level at 1.38715 to confirm the continuation of the bullish trend, and monitor the nearest support level at 1.35779 for potential reversals.
Fibonacci Retracement Levels
UPTREND Movement (333 days)
Starting Point (100%): 1.25580 on February 28, 2025
Ending Point (0%): 1.38677 on January 27, 2026
| Level | Price | Distance | Status |
|---|---|---|---|
| 0.0% | 1.38677 | +0.02857 (+2.10%) | RESISTANCE ↑ |
| 23.6% | 1.35586 | -0.00234 (-0.17%) | SUPPORT ↓ |
| 38.2% | 1.33674 | -0.02146 (-1.58%) | SUPPORT ↓ |
| 50.0% | 1.32129 | -0.03692 (-2.72%) | SUPPORT ↓ |
| 61.8% | 1.30583 | -0.05237 (-3.86%) | SUPPORT ↓ |
| 78.6% | 1.28383 | -0.07437 (-5.48%) | SUPPORT ↓ |
| 100.0% | 1.25580 | -0.10240 (-7.54%) | SUPPORT ↓ |
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