GBPUSD Technical Analysis: The GBP/USD pair continues its trading at the beginning of this week in an upward trend, with the emergence of a sideways area in the price movements. The pair recorded its highest trading price so far at 1.26011 and the lowest price at 1.25785, to currently trade at 1.25961. Despite the prevailing upward trend, the price presence in a narrow range indicates a state of hesitation within the market.
GBPUSD Technical Analysis: Technical Analysis
Technically, the pair is trading above the moving averages levels, which enhances the support of the short-term uptrend. The MACD indicator also shows positive signals, but accompanied by some weakness in the strength of the trend, which reflects the possibility of profit-taking operations or simple corrections in the upward movement. The current situation requires careful monitoring of support and resistance levels, as any breach of the borders of this sideways area may enhance or change the direction of the movement.
Trading Outlook:
If the pair continues to trade above the moving averages with the technical indicators stable, the uptrend is expected to continue. However, with some weakness in the MACD, we may see price corrections or sideways movements if the current trading range is not broken. It is important to follow price developments at resistance and support levels to identify new entry opportunities.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.26180 | 1.25559 |
| Target Point 1 (TP1) | First resistance: 1.26519 | First support: 1.25334 |
| Target Point 2 (TP2) | Second resistance: 1.26712 | Second support : 1.25231 |
| Stop Loss (SL) | 1.25559 | 1.26180ش |
The overall trend for the GBP/USD pair remains bullish, supported by prices trading above the moving averages.
but with signs of a slight weakening in the uptrend. It is recommended to monitor price action within the current consolidation zone and follow technical indicators closely to identify opportunities for upcoming moves.
