Technical analysis
GBP/USD – July 29th: The FOMC Is Expected to Leave Monetary Policy Unchanged in July
On the hourly chart, the GBP/USD
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29.07.2026 10:45 AM
On the hourly chart, the GBP/USD pair traded below the 61.8% Fibonacci retracement level at 1.3298 on Tuesday, failing to either extend its decline or initiate a recovery. Therefore, today, a rebound from the 1.3298 level would favour the US dollar and the resumption of the decline towards the 76.4% Fibonacci retracement level at 1.3238, while consolidation above 1.3298 would allow for a modest recovery in the pound towards the 50.0% Fibonacci retracement level at 1.3348. The wave structure
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