GBPUSD Technical Analysis: The GBP/USD pair is trading in an upward trend so far, as the pair recorded its highest price for the day at 1.2748 and its lowest price at 1.2677. At the moment, it is trading at 1.2693, indicating a relatively stable price movement near the midpoint between the high and low levels of the day.
GBPUSD Technical Analysis: Technical Analysis
Moving Averages:
The current price movement indicates a continuation of the upward trend, as the pair is trading above the moving average indicators on various time periods, which supports the continuation of the bullish momentum in the short and medium term. However, it is important to monitor the price interaction with these averages as there are some signs of slowdown in the bullish trend.
MACD Indicator:
The MACD indicator indicates a positive trend, as the main line of the indicator remains above the signal line, indicating that the bullish momentum is still in place. However, there are some signs that may indicate a decline in the momentum of this trend.
as the indicator shows a convergence between the two lines, hinting at a possible weakening in the bullish momentum in the coming hours.
Today’s Outlook:
If trading continues above the moving averages, the bullish trend is expected to continue in the short term, with the possibility of testing new resistance levels near 1.2750. However, if prices decline below the current support levels at 1.2670.
we may witness a bearish correction towards the 1.2650 level or even 1.2600 in case the selling pressure worsens.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2709 | 1.2668 |
| Target Point 1 (TP1) | First resistance: 1.2728 | First support: 1.2653 |
| Target Point 2 (TP2) | Second resistance: 1.2745 | Second support : 1.2643 |
| Stop Loss (SL) | 1.2668 | 1.2709 |
Based on the current technical analysis, the GBP/USD pair remains in an uptrend, but with signs of weakness in the upward momentum according to the MACD indicator. It is important to follow the price action closely in the coming hours to monitor any changes in this trend, while keeping an eye on the key support and resistance levels.
