Technical analysis
GBP/USD – July 31: The U.S. Economy Continues to Struggle to Gain Momentum
On the hourly chart, GBP/USD continued
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31.07.2026 11:31 AM
On the hourly chart, GBP/USD continued to advance on Thursday and ended the day near the 1.3454–1.3458 resistance level. A rebound from this area would favor the U.S. dollar and could trigger a decline toward the 38.2% Fibonacci retracement level at 1.3397. A consolidation above the 1.3454–1.3458 resistance level would increase the likelihood of a continued advance toward the next resistance level at 1.3526–1.3557. The wave structure remains bearish. The most recently completed upward wave failed to break above
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