GBPUSD Technical Analysis: The pound is rising

GBPUSD Technical Analysis: The GBP/USD pair is trading today in a clear upward trend, as it recorded a high of 1.2992 and a low of 1.2954. At the moment, the pair is trading at the level of 1.2986.

GBPUSD Technical Analysis Analysis of trading prices:

The price action indicates that it is trading above the moving average indicators, which strengthens the upward trend and reflects the strength of the demand for the pound against the US dollar.

Technical indicators analysis:

  • MACD indicator: The indicator shows a positive trend, indicating the presence of upward momentum in the market. This reflects investors’ optimism towards the pair, and reinforces expectations of the continuation of the upward trend.

Expected trading during the day:

The pair is expected to continue trading within the upward trend, with the possibility of testing new resistance levels. Any signs of a decline or correction should be monitored, as they can affect the current momentum.

GBPUSD Technical Analysis

Trading strategies based on Buy/Sell levels

In case of buying in case of selling GBPUSD
1.2997 1.2963 Entry point
First resistance: 1.3018 First support: 1.2950 Target Point 1 (TP1)
Second resistance: 1.3040 Second support       : 1.2936 Target Point 2 (TP2)
1.2963 1.2997 Stop Loss (SL)

 

The GBP/USD pair shows strength in the upward trend supported by technical analysis. It is essential to follow the price action and technical levels to get accurate signals about the continuation or change of the trend.

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