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Feb 05, 2026

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The British pound is moving sideways with a slight upward bias after a clear bounce from a previous low, benefiting from a relatively calm US dollar. Current trading near 1.3612 reflects a wait-and-see approach before determining the next direction, especially as the price approaches a significant technical resistance level.

The MACD indicator remains in positive territory, but momentum is gradually losing strength, suggesting the possibility of continued volatility in the short term.

Overall trend: Neutral with a slight upward bias
Support: 1.3520 – 1.3460
Resistance: 1.3680 – 1.3740

Expectation: A break above 1.3680 could push the pair to test 1.3740, while failure to hold above 1.3520 could bring renewed pressure towards the lower support levels.
 

 

 

EUR/USD Chart on the hourtly time frame

EUR/USD Chart on the hourtly time frame

The pair is attempting to consolidate above support levels after a clear downward move and is currently trading near the lower boundary of the descending channel with limited recovery attempts. The recent weakening of the US dollar's momentum is providing some support for the pair, but the overall trend remains cautious.

The MACD indicator shows a gradual improvement in negative momentum, without yet confirming a clear reversal.

A clear break above the nearby resistance levels could support a corrective bounce scenario.

Overall trend: Neutral-bearish
Support: 1.1780 – 1.1735
Resistance: 1.1860 – 1.1920

Expectation: Holding above support could allow for a corrective upward attempt, while a break below 1.1780 would reinstate selling pressure.
 

 

USDJPY chart on the hourly time frame

USDJPY chart on the hourly time frame

The pair continues its strong upward trend, supported by the monetary policy divergence between the US and Japan. Current pullbacks are corrective as long as the price remains above key support levels.
Positive momentum remains dominant, albeit relatively slower.

Overall Trend: Upward
Support: 156.20 – 155.40
Resistance: 158.00 – 159.20

Expectation: Any consolidation above 156.20 supports the targeting of new highs.
 
 

- A look at yesterday report dated Feb 4, 2026.

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