GBPUSD Technical Analysis: The GBP/USD pair is recording an upward movement during today’s trading, as the pair recorded its highest price so far at 1.2550 and the lowest price at 1.2414, and is currently trading at the level of 1.2539. This movement reflects the continuation of the upward trend in the market, supported by the buying power.
GBPUSD Technical Analysis: Technical analysis
- Moving averages: It appears that the pair is currently trading above the short- and long-term moving averages, which reinforces the upward trend and reflects a state of continuous support at current price levels. This indicates the continuation of the upward momentum in the short and medium term.
- MACD indicator: The MACD indicator indicates a positive trend, as it is trading above the signal line, which reflects upward momentum in the market. This signal adds to the positive support for the upward trend at the present time.
Trading Outlook:
- Under the current conditions, the pair is expected to continue rising towards new resistance levels, with a possibility of testing the 1.2575 or even 1.2600 levels, provided that the support signals from the moving averages and the MACD indicator continue to be confirmed.
- On the other hand, in case of any pullback, the pair is likely to find support near the 1.2450 or 1.2400 levels.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2562 | 1.2482 |
| Target Point 1 (TP1) | First resistance: 1.2599 | First support: 1.2454 |
| Target Point 2 (TP2) | Second resistance: 1.2630 | Second support : 1.2441 |
| Stop Loss (SL) | 1.2482 | 1.2562 |
Based on the current technical analysis, the overall trend of the GBP/USD pair remains bullish, as technical indicators point to strong positive momentum. The market remains in a continuous support mode, which reinforces the expectations of a continued upward movement as long as these supportive technical signals hold.
