GBP/USD Rebounds from 100% Resistance, Eyes 1.3480 Support

The British Pound/US Dollar (GBP/USD) has rebounded from its 1 (100%) Resistance Arc, according to an analysis by FXStreet. This development confirms a bearish reaction and opens up the possibility of continued downward movement toward the next Support Arc at 1.3480.

As per the Arc Cycle Analysis applied to the 1h chart, the rebound from the 1 (100%) Resistance Arc indicates that it continues to act as a primary resistance boundary within the current Arc Cycle. The analysis suggests that continued bearish momentum could drive the price toward the next Support Arc at 1.3480 (0.786 Target Arc).

On the other hand, if the GBP/USD closes above 1.3420 in the short term, it would weaken the bearish scenario and potentially reopen the path toward an extension into the outer Resistance Arc.