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GBP/USD Intraday Trade Setup
Market Bias
- Short-term bullish, but upside capped near 1.3560
- Momentum is positive, yet not strong enough for a sustained breakout above 1.3600 without fresh catalysts
Primary Setup: Buy on Pullback
Entry zone:- 1.3485 – 1.3505
- 1.3445 (below key intraday structure / invalidation level)
- TP1: 1.3540
- TP2: 1.3560 (UOB target / exhaustion zone)
- Approx. 1:2.5 to TP2
- Trend remains constructive above 1.3450
- Buying dips offers better R:R than chasing highs
- 1.3560 is strong resistance where upside momentum is expected to fade
Alternative Setup: Fade Resistance (Counter-trend, Advanced)
Sell zone:- 1.3555 – 1.3570
- 1.3610 (clean break above resistance invalidates the idea)
- TP1: 1.3505
- TP2: 1.3470
- Price shows rejection (long wicks, bearish candles) near 1.3560
- Momentum indicators diverge
Invalidation Levels
- Bullish bias fails below: 1.3450
- Daily close above 1.3600 → opens path to 1.3650–1.3700, cancel sell-on-rallies idea
Key Catalysts to Watch
- US data surprises (jobs, ISM services)
- Sudden USD risk-off flows from geopolitics
- Any unexpected BoE or Fed commentary
Quick Trade Summary
- Bias: Buy dips
- Best buy: 1.3485–1.3505
- Target: 1.3560
- Key support: 1.3450
- Key resistance: 1.3560–1.3600