EUR/USD & GBP/USD Technical Outlook: Key Levels for the New Trading Week

GBP/USD demonstrated resilience heading into the new trading week, holding support at an upward-sloping trendline on the hourly chart before pushing higher and breaking above the 100-hour moving average. The pair maintained its position above this key technical level through the New York afternoon session, providing buyers with a near-term foundation to build upon. However, analysts note that further work is needed to solidify the bullish bias, suggesting the pair remains in a transitional phase. EUR/USD was also referenced in the weekly technical preview, indicating traders are closely monitoring both major dollar pairs for directional cues. For GBP/USD, the 100-hour moving average now serves as immediate support, with the upward-sloping trendline providing a secondary floor beneath it. A sustained hold above the 100-hour MA would strengthen the case for further upside, while a failure to maintain these levels could invite renewed selling pressure. Traders should watch for confirmation of direction as liquidity returns with the new week.