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.
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.