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GBP/USD has extended its three-day winning streak, trading near 1.3600 during Asian hours on Thursday. Technical analysis of the daily chart shows a strengthening bullish trend as the pair rebounds from the lower boundary of an ascending channel. The price action suggests a potential continuation of the upward trajectory, with traders closely monitoring key resistance levels above 1.3600 for confirmation of sustained momentum.
This development is significant for forex traders as it reinforces the pair's technical bias toward further gains. The ascending channel breakout could attract additional buying interest, especially if the 1.3600 level holds as support. Market participants are also watching for signs of a broader bullish reversal pattern, which could signal a shift in the GBP/USD trend.
For the broader forex market, a sustained move above 1.3600 might trigger follow-through buying, potentially testing higher resistance levels. Traders should monitor the 1.3700-1.3800 range as the next critical target. The pair's performance will also influence cross-currency flows, particularly in GBP crosses like EUR/GBP and USD/GBP.
