GBP/USD Price Forecast: Eyes nine-day EMA support near 1.3500

GBP/USD steadies for the second successive day, trading around 1.3530 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias as the pair moves sideways within the ascending channel pattern.

The GBP/USD pair holds a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). This alignment of short- and medium-term EMAs below the spot suggests ongoing upside control. Meanwhile, the 14-day Relative Strength Index near 58 stays in positive territory without yet signaling overbought conditions, hinting that buyers still retain the initiative.

The GBP/USD pair may find the initial resistance at the two-month high of 1.3599, recorded on April 17. Further advances would support the pair to test the upper boundary of the ascending channel near the 1.3869, the highest level since September 2021, reached on January 27.

On the downside, the immediate support lies at the nine-day EMA of 1.3509, followed by the lower boundary of the ascending channel around 1.3500. Next support appears at the 50-day EMA at 1.3437. A sustained break below the medium-term average would expose the five-month low of 1.3159, recorded on March 31, followed by the 1.3010, the lowest since April 2025, which was recorded in November 2025.

(The technical analysis of this story was written with the help of an AI tool.)