GBPUSD Technical Analysis: The GBP/USD pair is trading today in an upward trend, but with some weakness in the strength of this trend. The pair recorded its highest price so far at 1.2676 and the lowest price at 1.2641, and is currently trading at the level of 1.2666. Although the upward trend continues, prices are trading above the moving average indicators, which supports the continuation of the upward movement, but the weakness of the momentum in the current trend may enhance the possibility of fluctuation or correction in the short term.
GBPUSD Technical Analysis: Technical analysis
Moving averages:
The pair is trading above the main moving average levels, which enhances the positive outlook in the short term. Continuing trading above these levels reflects the continued support for the upward trend.
If the pair is able to maintain these levels or break them upwards, it is likely to continue rising towards higher levels.
- MACD Indicator:
The MACD indicator is showing positive signals, as the main line of the indicator is still above the signal line, indicating the continuation of the bullish trend at the moment.
However, the weakness in the momentum indicates that the bullish trend may be in a phase of slowdown or hesitation.
which increases the possibility of a small correction or price fluctuation before the bullish movement resumes more strongly.
Trading Expectations:
- Given the current situation, the pair is likely to face some volatility in the short term. If prices continue to trade above the support levels at 1.2640, there is a chance for the bullish trend to continue towards the 1.2700 levels.
- In case of a decline below the 1.2640 level, we may witness a corrective movement that may extend towards the next support levels at 1.2600 or lower.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2676 | 1.2636 |
| Target Point 1 (TP1) | First resistance: 1.2693 | First support: 1.2624 |
| Target Point 2 (TP2) | Second resistance: 1.2710 | Second support : 1.2610 |
| Stop Loss (SL) | 1.2636 | 1.2676 |
The GBP/USD uptrend is still ongoing, but with weak momentum that could signal a slowdown in the current move. It is important to follow the pair’s movements relative to the key moving averages and the MACD to determine the next direction. If the pair continues to hold the current support levels, further gains could be seen in the short term.
