GBP/USD Forecast: Holds near nine-day EMA support after dipping below the 1.3500 level.

• GBP/USD could recover toward its two-month peak at 1.3599.
• The 14-day RSI, hovering around 56, signals bullish momentum while remaining below overbought territory.
• Nearby support is seen at the nine-day EMA, currently at 1.3493.

GBP/USD has edged lower for a third straight session, hovering around 1.3500 in Thursday’s Asian trading. Daily chart signals point to a possible bearish turn as the pair slips below its ascending channel.

Even so, the broader tone remains cautiously bullish. The pair is still holding just above the nine-period EMA and well above the 50-period EMA, suggesting underlying buying interest. Meanwhile, the 14-day RSI near 56 reflects healthy momentum without entering overbought territory, leaving scope for further gains on pullbacks.

If price re-enters the ascending channel, it could retest the two-month high at 1.3599 (April 17). A continued move higher may target the channel’s upper boundary near 1.3810, with a breakout potentially opening the door toward 1.3869, the highest level since September 2021.

On the downside, immediate support is seen at the nine-day EMA around 1.3493, followed by the 50-day EMA at 1.3427. A decisive break below these levels could shift momentum, exposing the March 31 low of 1.3159 and then 1.3010, the weakest level since April 2025.