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03.08.2026 09:59 AM
On the hourly chart, GBP/USD rebounded on Friday from the 38.2% Fibonacci retracement level at 1.3397, reversed in favor of the pound, and consolidated above the 1.3454–1.3458 level. As a result, the upward move may continue on Monday toward the 1.3526–1.3557 resistance level. If the pair consolidates below the 1.3454–1.3458 level, traders may expect a modest decline toward the 38.2% Fibonacci retracement level at 1.3397. The wave structure remains bearish. The latest completed upward wave broke above the previous
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