GBPUSD Technical Analysis: The GBP/USD pair continues to move in an uptrend today (January 24, 2025), as the pair recorded its highest trading price so far at 1.24472 and its lowest price at 1.23454. The pair is currently trading at 1.24094, reflecting the continuation of the upward movement.
GBPUSD Technical Analysis: Technical Analysis
Price action indicates that the pair is trading above the moving averages levels on different time frames, indicating the strength of the current uptrend. Trading above these averages also indicates the presence of strong support at current price levels.
On the other hand, the MACD indicator reflects positive signals as it intersects with the signal line in the upward direction, indicating the strength of the buying momentum in the market. This reinforces expectations of a continuation of the uptrend in the near term.
Future Analysis:
If the pair continues to trade above the moving averages levels, it is likely to witness further rise towards higher resistance levels. The pair may test the 1.24472 level again and if it is broken, it may head towards new bullish targets. On the other hand, in case of any decline and break of the moving averages or a decline in the MACD indicator, this may indicate a possible bearish correction.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.24275 | 1.23743 |
| Target Point 1 (TP1) | First resistance: 1.24548 | First support: 1.23530 |
| Target Point 2 (TP2) | Second resistance: 1.24732 | Second support : 1.23410 |
| Stop Loss (SL) | 1.23743 | 1.24275 |
The current technical analysis reflects a continued uptrend for the GBP/USD pair, supported by prices trading above the moving averages and positive signals from the MACD indicator. However, it is important to follow any changes in momentum to determine the strength of the trend in the future.
