GBPUSD Technical Analysis: The GBP/USD pair is trading today at the beginning of an upward trend, after a long period of decline. The pair recorded its highest trading price so far at 1.3095, while the lowest price reached 1.3034. The pair is currently trading at 1.3085, indicating a positive shift in prices.
GBPUSD Technical Analysis Developments and prices:
It is clear from the price movement that the pair is witnessing a significant rise. Technical indicators highlight this trend, as we find that prices have exceeded the moving average levels, which enhances the possibility of the upward trend continuing.
Technical analysis:
When analyzing the technical indicators, we notice that the MACD indicator indicates the end of the negative trend and the beginning of the emergence of a positive trend. This shift supports the positive expectations for the pair, as other indicators such as the RSI (Relative Strength Index) also show signs of purchasing power.
Trading during the day:
During today’s trading, prices are expected to continue their upward trend, with the possibility of reaching new resistance levels. It is important to monitor the support levels at 1.3034 which could represent a bounce point in case of a correction.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3099 | 1.3061 | Entry point |
| First resistance: 1.3120 | First support: 1.3049 | Target Point 1 (TP1) |
| Second resistance: 1.3135 | Second support : 1.3015 | Target Point 2 (TP2) |
| 1.3061 | 1.3099 | Stop Loss (SL) |
Based on the technical analysis, the GBP/USD pair appears to be on a positive trajectory. Traders are advised to closely monitor the market movement and take advantage of potential reversals, taking into account its key support and resistance levels.
