GBP/USD Price Prediction: Bullish Momentum Intact Above 1.3550

GBP/USD Stays Bullish Above 1.3550 as USD Retreats

The GBP/USD pair pushes higher to 1.3555 during early European trading on Monday, maintaining a bullish bias as the US Dollar (USD) softens amid lingering trade tensions. Investors are reassessing the USD's safe-haven status, offering fresh support to the British Pound (GBP).

Technical Indicators: Bullish Signal Remains Strong

The pair trades above the 100-day Exponential Moving Average (EMA), which reinforces the bullish structure.
The Relative Strength Index (RSI) hovers around 60.50, staying well above the neutral 50 mark — a sign of positive short-term momentum.

Resistance and Support Levels

• Immediate Resistance: 1.3650 (upper Bollinger Band)
• Next Resistance: 1.3748 (January 13, 2022 high)
• Extended Target: 1.3834 (October 20, 2021 high)
• Initial Support: 1.3415
• Key Technical Floor: 1.3300 (psychological level and previous pivot)

What’s Ahead: UK Jobs Data in Focus

Traders are looking ahead to UK employment data due Tuesday, which could impact the pair’s direction. Strong labor figures could reinforce the bullish momentum, especially with USD fundamentals under pressure due to ongoing global trade uncertainties.

Related Article: UK Economic Calendar: Key Data to Watch This Week

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• How Global Trade Risks Are Shaping Currency Markets

Key Takeaways:

• GBP/USD trades around 1.3555 in Monday's European session.
• Technical indicators suggest sustained bullish momentum above the 100-day EMA.
• Key resistance seen at 1.3650, with 1.3748 and 1.3834 in focus if momentum builds.
• Upcoming UK jobs data could provide the next major directional cue.