GBPUSD Technical Analysis: The GBP/USD pair continues to trade in an uptrend today, as the pair recorded its highest price so far at 1.26766, and its lowest price at 1.26499. At the moment, the pair is trading at the level of 1.26726, reflecting a positive movement in the market during the current trading session.
GBPUSD Technical Analysis: Analysis of trading prices
It is noted that prices continue to trade above the moving averages, which reinforces the upward trend and reflects the strength of the positive momentum in the market. This indicates continued support for the upward trend in the short term, which increases the likelihood of the upward movement continuing during the coming period.
Technical analysis:
Through technical analysis, the MACD indicator shows positive signals confirming the continuation of the upward momentum of the pair. Also, trading prices above the moving averages reflects stability in the current trend, which enhances the likelihood of prices rising towards higher levels in the near term.
Outlook:
If the pair continues to trade above the current support levels, the odds are that the uptrend will continue, with the possibility of targeting higher levels. However, traders should keep an eye on any changes in price action or economic events that may affect the market.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.26966 | 1.26209 |
| Target Point 1 (TP1) | First resistance: 1.27323 | First support: 1.25987 |
| Target Point 2 (TP2) | Second resistance: 1.27521 | Second support : 1.25812 |
| Stop Loss (SL) | 1.26209 | 1.26966 |
Based on the current technical analysis, the GBP/USD pair is trading in an uptrend supported by positive signals from the moving averages and the MACD indicator. The outlook remains bullish as long as prices hold above key support levels.
