GBP/USD Price Forecast: Holds gains near 1.3200 despite persistent bearish bias
GBP/USD halts its five-day losing streak, trading around 1.3200 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair moves downwards within the descending channel pattern.
The near-term bias stays mildly bearish as the GBP/USD pair holds below both the nine-day and 50-day Exponential Moving Averages (EMAs), which cap price action and frame a descending short-term profile.
Additionally, the latest 14-day Relative Strength Index (RSI) hovers near 38 after recovering from oversold territory, indicating fading downside momentum but not yet enough buying pressure to challenge the dominant corrective phase from recent highs.
The GBP/USD pair may retest the immediate support at the descending channel’s lower boundary around 1.3150. A break below the channel would expose the 1.3010, the lowest since April 2025, which was recorded in November 2025.
On the upside, the GBP/USD pair may rise toward the primary barrier at the nine-day EMA of 1.3291. Further advances would lead the GBP/USD pair to test the 50-day EMA at 1.3412, followed by the upper descending channel boundary around 1.3460. A break above this confluence resistance would trigger a bullish bias, paving the way for the pair to test 1.3869, its highest level since September 2021, reached on January 27.
(The technical analysis of this story was written with the help of an AI tool.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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