GBPUSD Technical Analysis: The GBP/USD pair is trading in an upward trend today, as the pair recorded its highest price so far at 1.2992 and the lowest price at 1.2946, and is currently trading at the level of 1.2981. This narrow range indicates a state of relative stability in the price movement, which reflects the strength of the upward trend and enhances expectations of the continuation of the positive movement.
GBPUSD Technical Analysis: Price Analysis and Trading
Through technical analysis, we notice that the pair is currently trading above the moving averages, indicating strong support for the short-term upward trend. Trading above these averages also indicates that buying pressure dominates the market.
which enhances the possibility of continuing the rise at the present time.
Technical Analysis:
- MACD Indicator: The MACD indicator shows a positive signal, as it begins to record a bullish crossover between the two lines, indicating the beginning of the entry of bullish momentum into the market. This signal supports the bullish trend and opens the door for more gains if this momentum continues to increase.
Future outlook:
If the pair continues to trade above the 1.2950 level, the bullish trend is expected to continue towards testing the next resistance levels at 1.3000 and 1.3050. If the pair manages to break this resistance, the rise may extend to higher levels. On the other hand, if the price declines below the 1.2940 level, the pair may face bearish pressure that may push it to test the support levels at 1.2900 and 1.2850.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2990 | 1.2962 |
| Target Point 1 (TP1) | First resistance: 1.3005 | First support: 1.2952 |
| Target Point 2 (TP2) | Second resistance: 1.3015 | Second support : 1.2942 |
| Stop Loss (SL) | 1.2962 | 1.2990 |
Technical indicators point to the continuation of the GBP/USD bullish trend in the short-term. Trading above the moving averages supports the positive outlook, while the MACD indicator shows strength in the upside. Therefore, if the pair continues to maintain its current levels, further gains are expected during today’s trading session, keeping an eye on key resistance and support levels to identify potential turning points in the near future.
