GBPUSD Technical Analysis: Bullish Trading

GBPUSD Technical Analysis: The GBP/USD pair is showing an upward trend at the beginning of today’s session, as it is currently trading at the level of 1.2991. The pair recorded its highest price today at 1.2993 and the lowest price at 1.2938, reflecting positive momentum in the price action.

GBPUSD Technical Analysis: Technical Analysis

Chart analysis indicates that prices have started trading above the moving average indicators, which enhances the strength of the upward trend. In addition, the MACD indicator shows the beginning of a shift from negative to positive, reflecting signs of a possible continuation of purchasing power.

Today’s Expectations

If the upward trend continues, the pair is likely to face resistance levels at 1.3000. While the current support level at 1.2938 may play an important role in maintaining the positive momentum. Price action around these levels should be monitored to ensure the sustainability of the trend.

GBPUSD Technical Analysis

Trading strategies based on Buy/Sell levels

In case of buying in case of selling GBPUSD
1.2998 1.2968 Entry point
First resistance: 1.3014 First support: 1.2958 Target Point 1 (TP1)
Second resistance: 1.3038 Second support       : 1.2945 Target Point 2 (TP2)
1.2968 1.2998 Stop Loss (SL)

 

The GBP/USD pair appears to be in a bullish trend that could continue. We recommend monitoring the price action closely, as any break of the 1.3000 level could open the way for further gains.

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