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04.08.2026 10:10 AM
On the hourly chart, the GBP/USD pair reversed in favor of the U.S. dollar on Monday and consolidated below the 1.3454–1.3458 level. As a result, the decline may continue today toward the next Fibonacci retracement level of 38.2% at 1.3397. A rebound from the 1.3397 level would favor the pound and support a moderate recovery toward the 1.3454–1.3458 resistance level. Consolidation below the 1.3397 level would increase the likelihood of a further decline toward the next Fibonacci retracement level of
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