GBPUSD Technical Analysis: Uptrend

GBPUSD Technical Analysis: The GBP/USD pair appears in an uptrend today, as it recorded the highest trading price for the day at 1.25036 and the lowest price at 1.24603, so the pair is currently trading at the level of 1.25006. This reflects the positive momentum that is pushing the market towards the rise.

GBPUSD Technical Analysis: Technical analysis

We notice that prices are trading above the moving averages indicators, indicating the continuation of the upward trend. This movement supports the possibility of continuing the upward momentum in the market in the short to medium term.

MACD indicator: The MACD indicator shows a positive crossover and stabilizes in the positive zone, reinforcing expectations that the upward trend will continue. This indicates strength in the upward momentum, which makes the possibility of further increases available if the price continues to maintain these levels.

Expectations:

The GBP/USD pair is expected to continue moving upwards in the near term, especially if it continues to trade above the moving averages. If the pair continues to show positive momentum, we may witness a test of higher resistance levels. On the other hand, any decline below the support level at 1.24603 may indicate the beginning of a correction or a sideways movement.

GBPUSD Technical Analysis

Trading strategies based on Buy/Sell levels

GBPUSD In case of buying in case of selling
Entry point 1.25272 1.24564
Target Point 1 (TP1) First resistance: 1.25626 First support: 1.24308
Target Point 2 (TP2) Second resistance: 1.25821 Second support       : 1.24207
Stop Loss (SL) 1.24564 1.25272

 

The overall trend of the GBP/USD pair indicates a continuation of the upward movement, supported by positive signals from the moving averages and the MACD indicator. Traders are advised to monitor key support and resistance levels to adjust trading strategies according to the current momentum.

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