GBPUSD Technical Analysis: Buyers Hold Pivot as Resistance Comes Into Focus

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of GBPUSD for August 28, 2026.

Technical Analysis of GBPUSD

GBPUSD Daily Chart Insight

(GBPUSD Daily Chart, Source: Ultima Markets MT5)

GBPUSD maintains a bullish daily bias, although the latest candles show a pullback after the recent advance into the 1.3643–1.3684 area. Price at 1.35959 remains above the rising red 16-period moving average, purple 50-period moving average, and blue 100-period moving average. The MA16 continues to slope higher, while the MA50 and MA100 are also turning upward more gradually, although the MA50 remains below the MA100.

RSI stands at 61.03, keeping broader momentum constructive despite the latest retreat. Buyers therefore retain the broader advantage while price holds above the rising MA16 area, but renewed confirmation requires a recovery through the recent 1.3643–1.3684 resistance zone.

Key Levels:

• Support 1 (1.3561): Immediate support around the rising MA16 and the latest pullback area.
• Support 2 (1.3520): A lower price zone associated with the previous advance and consolidation structure.
• Support 3 (1.3438–1.3397): A broader support region around the rising MA100 and MA50.
• Resistance 1 (1.3643–1.3684): The latest visible swing-high zone where the recent rally stalled.
• Resistance 2 (1.3848): The major upper resistance marked by the prominent early-2026 peak.

GBPUSD 2-Hour Chart Analysis

(GBPUSD 2-Hour Chart, Source: Ultima Markets MT5)

GBPUSD shows a neutral-to-bearish short-term bias on the 2-hour chart, although a rebound is developing from the latest decline. Price at 1.35964 has recovered above the red 16-period moving average, but remains below the purple 50-period moving average and blue 100-period moving average. The MA16 and MA50 are sloping lower, while the MA100 is still rising, reflecting a short-term correction against the broader advance.

RSI has recovered to 47.19 after falling toward the lower part of its range, but remains below the midpoint and therefore does not yet confirm strong upside momentum. With price consolidating between the recent low and overhead moving-average resistance, a sideways pause remains possible before the next directional break.

Breakout Scenarios:

• Bullish continuation is a possible scenario, triggered by a decisive break and hold above 1.36100 and the blue MA100. This would expose the 1.36225 area around the purple MA50, followed by the 1.36350–1.36475 resistance zone.
• Bearish correction is a possible scenario, triggered by a failure to hold the rebound followed by a decisive break below 1.35725. This would expose the next visible downside area around 1.35600.

GBPUSD Pivot Indicator

(GBPUSD 30-Minute Chart, Source: Trading Central)

GBPUSD is trading at 1.3596 on the 30-minute chart, holding above the main 1.3570 pivot and maintaining an immediate bullish bias. RSI stands at 56.27, indicating moderately positive momentum, while MACD is positioned around the 0.00 level with the MACD line marginally above its signal line.

Price is recovering from the recent low but remains in a relatively tight consolidation, suggesting that momentum is improving without yet showing a decisive breakout.

• Bullish Breakout: The bullish preference remains active while GBPUSD holds above the 1.3570 pivot, with 1.3637 as the first upside target and 1.3656 as the second. A sustained push toward and through 1.3637 would be better supported if RSI remains firm around its current 56.27 reading and MACD continues to hold above its signal line around 0.00.
• Bearish Rejection: A decisive break below the 1.3570 pivot would shift the immediate bias bearish, exposing 1.3538 as the first downside target and 1.3519 as the second. Confirmation would require RSI to weaken from 56.27 while MACD turns below its signal line around the 0.00 area.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.