Chart the Market (13/08/2025)

GBPUSD, H4:

The GBP/USD pair has demonstrated notable resilience, rebounding sharply from its recent low of 1.3170 to establish firm support above the technically significant 61.8% Fibonacci retracement level at 1.3420. The currency pair extended its gains during the previous session, advancing 0.7% as bullish momentum continued to build.

From a technical perspective, the outlook remains constructive. The Relative Strength Index has pushed into overbought territory, reflecting strong upward momentum, while the Moving Average Convergence Divergence indicator maintains its position at elevated levels—both signaling sustained buying pressure.

The pair’s ability to hold above the 1.3420 Fibonacci level suggests potential for further upside, though traders should remain cognizant of the overbought conditions that may precede a near-term consolidation. A decisive break above the recent high could pave the way for a test of stronger resistance levels, while any retreat would likely find initial support near the 1.3420-1.3400 zone.

Resistance Levels: 1.3535, 1.3650

Support Levels: 1.3420, 1.3290

Nasdaq,  H4

The tech-heavy index held near record highs in the last session, hovering around the key psychological resistance at 24,000. A decisive break above this level would reinforce a strong bullish outlook.

Technical signals are aligning with the upward bias. The short-term SMA has crossed above the long-term SMA, confirming a bullish crossover. Momentum indicators also support the move — RSI is pushing toward overbought territory after breaking above its midpoint, while the MACD has rebounded above the zero line and broken a lower-high pattern, signaling renewed buying pressure.

Resistance Levels: 23,900.00, 24,100.00

Support Levels: 23,680.00, 23,480.00