GBPUSD Technical Analysis: From the chart, we can see that the GBP/USD pair has maintained its upward trend since the beginning of April 8, successfully breaking several resistance levels. The price is currently trading around 1.3160 after a clear break of 1.3134 and touching the next resistance level at 1.3179.
The overall short-term trend is positive, supported by strong upward momentum and movement above the moving averages
Technical Indicator Analysis
Moving Averages
The short- and medium-term moving averages indicate a clear upward trend, with the price consolidating above all moving averages, reinforcing the positive outlook.
MACD
Reflects increasing positive momentum, with the histogram continuing to expand above the zero line, supporting the continued upward trend.
Stochastic
Trading in overbought areas (above 80), which may indicate a potential short-term correction, but there is no confirmed reversal signal yet
Possible Scenarios
Bullish Scenario
If the price succeeds in breaking the resistance at 1.3179 and holding above it, it may open the way for further upward movement towards:
1.3204 As the next resistance level.
Then 1.3248 as a potential technical target if the upward momentum continues.
Bearish Scenario
Continued weakness of the US dollar.
Lack of reversal signals on indicators.
Positive news from the UK economy.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.31798 | 1.31344 | Entry point |
| First resistance: 1.32048 | First support: 1.31072 | Target Point 1 (TP1) |
| Second resistance 1.31247 | Second support 1.30872 | Target Point 2 (TP2) |
| 1.31344 | 1.30961 | Stop Loss (SL) |
The GBPUSD pair appears to be on the cusp of a significant test as it approaches strong resistance levels. Maintaining positive momentum and successfully surpassing 1.3179 could pave the way for new highs, while any failure at this level could push the pair into a limited correction towards key support levels.
Reaction to upcoming economic news and data remains the primary driver of the pair’s direction, and traders are advised to monitor price action near critical technical levels to make informed decisions.
