The GBP/USD pair is trading today at the level of $1.3370.
as technical data indicates the continuation of the bullish trend in the short term. The price is currently above the intersections of the main moving averages, which reinforces the bullish outlook. The MACD indicator also gives positive signals that enhance the chances of the continuation of the purchasing power in the coming period.
GBP/USD Technical analysis: Technical outlook
On the daily time frame, the GBP/USD pair is trading in a continuous bullish trend, as the price strengthens its positions above the 50- and 200-day moving averages, which provides strong support for the bullish movement. These averages form major support levels in the event of any corrections in the short term.
MACD signals indicate the continuation of the bullish trend, as a positive intersection appears between the MACD line and the signal line above the zero level. This signal supports the buying momentum and confirms that traders tend to buy at corrections.
Technically, the pair may continue to rise towards the upcoming resistance levels at $1.3400 and then $1.3450 if the MACD signals and the current bullish trend continue. The price being above the moving average crossovers reinforces the confidence in the bullish trend and gives a positive signal in the near term.
How does the MACD affect the future?
The current MACD signals suggest that the pair may continue its bullish momentum as long as the MACD line remains above the signal line, indicating continued buying power. In the medium to long term, if this trend continues, the MACD may indicate further gains. However, in case of a reversal or a negative crossover in the MACD, this may be an early sign of a potential pullback or correction in the trend.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3386 | 1.3353 | Entry point |
| First resistance: 1.3407 | First support: 1.3327 | Target Point 1 (TP1) |
| Second resistance: 1.3437 | Second support: 1.3300 | Target Point 2 (TP2) |
| 1.3353 | 1.3386 | Stop Loss (SL) |
The GBP/USD pair is showing strong bullish signals supported by the price trading above the moving averages and positive signals from the MACD indicator. The bullish momentum may continue in the coming days if these technical factors continue to influence positively. However, traders are advised to keep a close eye on the MACD indicator.
as it may provide early signals of any potential change in trend or momentum.
