GBPUSD Technical Analysis: The British pound has been on a strong upward trend since the beginning of the week, supported by recovering UK growth data, which showed a surprising increase in industrial and service production. This eased expectations of an economic contraction and raised the likelihood of interest rates remaining at their current levels.
Conversely, the US dollar experienced a wave of volatility following inflation data in line with expectations and the absence of any new stimulus from the Federal Reserve, leaving room for other currencies, especially the pound, to control the trend.
Technical Indicator Analysis
Moving Averages
The price is above all moving averages (50, 100, and 200).
The averages are aligned upwards, supporting momentum
MACD
Positive above the zero line.
Signal of continued upward momentum unless a negative divergence occurs.
Stochastic
Touching overbought areas.
May indicate a slight pullback before resuming the uptrend.
Possible Scenarios
Bullish Scenario
A break of 1.3240 will push the pair towards 1.3275.
Continued support from economic data reinforces this scenario.
Bearish Scenario
if the breakout fails, we may see a decline towards 1.3160.A break of 1.3140 will lead to a retest of the 1.3116 area.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.32206 | 1.31716 | Entry point |
| First resistance: 1.32407 | First support: 1.31471 | Target Point 1 (TP1) |
| Second resistance 1.32658 | Second support 1.31251 | Target Point 2 (TP2) |
| 1.31716 | 1.32206 | Stop Loss (SL) |
The uptrend for the GBP/USD pair appears stable from both a technical and fundamental perspective. With the price remaining above 1.3160, it is expected to continue its upward movement towards new resistance levels.
From a professional perspective, buying opportunities remain, especially if confirmation candles appear at support or the 1.3240 resistance is breached with a clear close.
