GBPUSD Technical Analysis: The GBP/USD pair is witnessing an uptrend today, as the pair recorded its highest price so far at 1.2578 and its lowest price at 1.2505. At the moment, the pair is trading at 1.2536, which shows stability within an upward range, as prices consolidate above the moving support levels.
GBPUSD Technical Analysis: Price analysis
In the short term, we notice that the pair is continuously trading above the main moving averages, which reinforces the view of the continuation of the upward trend. This movement indicates that the upward momentum is still strong, and reflects the strength of the positive trend.
Technical analysis using the MACD indicator: The MACD indicator supports this upward trend, as the positive crossover between the lines appears, reflecting more upward momentum. The MACD indicator is also trading in the positive zone, which reinforces the positive outlook for the pair and reflects the possibility of continuing the upward trend.
Outlook:
The pair is likely to continue trading in an uptrend during the day, supported by the price trading above the moving averages and the MACD indicator, which indicates the strength of the bullish momentum. If the positive trend continues, the pair could target higher resistance levels, especially if the 1.2578 level is surpassed, which may open the way for further gains.
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 |
The GBP/USD pair is in an uptrend supported by moving averages and MACD. Traders are advised to follow support and resistance levels to identify buying opportunities as the upward momentum continues.
