GBP/USD Analysis: Why Bulls Are Still in Control Above 1.3550 | Key Levels to Watch This Week

GBP/USD Holds Steady Amid Dollar Softness

The P2Pool Monero calculatorBritish Pound continues to demonstrate strength against the US Dollar, trading around 1.3555 during Monday's European session. This upward movement comes as market participants reevaluate the Greenback's position amid shifting risk sentiment.

Technical Landscape Remains Constructive

• The pair maintains firm footing above the crucial 100-day Exponential Moving Average
• RSI indicators hover near 60.50, confirming current bullish momentum
• Immediate resistance stands at 1.3650 with support forming at 1.3415

From a chart perspective, the GBP/USD maintains its positive trajectory with multiple technical factors supporting further upside potential. The daily timeframe shows consistent buying interest above key moving averages.

Potential Price Pathways

Should bullish momentum continue, traders will watch for a breakout above 1.3650, which could open the door to test January 2022 highs near 1.3748. Beyond that, the October 2021 peak at 1.3834 comes into focus.

On the flip side, any pullback would need to contend with support at 1.3415, followed by the 1.3250 zone. The 100-day EMA near 1.3110 represents a more significant floor for the pair.

Market Catalysts Ahead

Upcoming UK employment data scheduled for Tuesday could provide fresh directional cues for the currency pair. Market participants will scrutinize these figures for insights into the Bank of England's potential policy path.

The technical setup suggests the GBP/USD retains its positive bias in the near term, though traders should remain vigilant around these key technical levels as new fundamental developments emerge.