FPG GBPUSD Market Report June 3, 2025

GBPUSD is currently around 1.35205, approaching a major resistance zone after a sustained bullish rally throughout May. The pair has shown a strong uptrend structure, but multiple wicks near resistance suggest cautious buying as the pair nears a breakout level.

The price remains above the Ichimoku cloud, confirming the prevailing bullish trend. Both Tenkan-sen and Kijun-sen lines are sloping upward, signalling ongoing upward momentum. However, the price is struggling to breach the key resistance at 1.35588, with visible rejection wicks over the last few sessions.

Bulls Power (13) is currently at 0.01165, indicating continued bullish pressure, but has shown signs of divergence as price nears resistance. The candles are supported by the short-term EMA band, yet the flattening slope of recent candles warns of possible consolidation if momentum fails to break above the ceiling.

Market Observation & Strategy Advice:

1. Resistance levels: 1.35588 (major ceiling and upper limit of recent rally).

2. Current position: 1.35205, slightly below resistance and near short-term overextension.

3. Support levels: 1.31707 (bottom of Ichimoku cloud and last demand pivot).

4. Momentum Indicator: Bulls Power remains positive, yet shows weakening drive. Ichimoku Cloud structure remains bullish, but short-term pullback risk exists.

5. Trading Strategy Suggestions:

• Breakout Watch: Monitor for a clean daily close above 1.35588 to confirm breakout and allow targeting 1.3650 or higher.

• Sell-on-Rejection Setup: If the pair fails to close above resistance, consider short opportunities targeting the 1.3400 - 1.3320 zone.

• Buy-on-Dip Strategy: Bullish trend remains intact; watch for entry near Tenkan-sen/Kijun-sen confluence or at 1.3400 support for long re-entry.

Market Performance:

Forex Last Price % Change

EUR/USD 1.14530 +0.12%

USD/JPY 142.432 -0.16%

Today's Key Economic Calendar:

AU: RBA Meeting Minutes

CN: Caixin Manufacturing PMI

EU: Inflation Rate YoY Flash

US: JOLTs Job Openings

Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment