GBPUSD Technical Analysis: The GBP/USD pair is trading today in a weak upward trend, as it recorded its highest level so far at 1.2981, and the lowest level at 1.2925, and is currently trading at 1.2945. Although the price witnessed some rise.
the upward trend appears very weak in light of the prices trading below the moving average indicators, indicating the dominance of selling pressure on the pair.
GBPUSD Technical Analysis: Technical analysis
- Moving averages: The pair is currently trading below the main moving average indicators, indicating that the general trend of the price tends to decline. Trading the price below these averages reflects weak upward momentum and enhances the chances of negative movement in the short term.
- MACD indicator: The MACD indicator reflects a decline in the strength of the positive trend, as it began to show a decline in upward momentum with the convergence of the fast and slow lines of the indicator. This signal indicates that the upward trend is losing its strength, which enhances the possibility of declines or a negative corrective movement in the near term.
Future Outlook:
Based on the current technical analysis, the uptrend in the GBP/USD pair lacks sufficient momentum to continue, with prices trading below the moving averages and the MACD indicator declining. The pair is likely to be exposed to more selling pressure in the coming period.
which enhances the negative chances for the pair towards the nearest support levels.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2957 | 1.2929 |
| Target Point 1 (TP1) | First resistance: 1.2968 | First support: 1.2910 |
| Target Point 2 (TP2) | Second resistance: 1.2978 | Second support : 1.2890 |
| Stop Loss (SL) | 1.2929 | 1.2957 |
The pair is experiencing weakness in the uptrend, which increases the possibility of a downside correction or pullback in the short term. With prices trading below the moving averages.
and the MACD declining, the downside opportunities seem to be the most likely for the pair in the coming hours.
with the focus on nearby support levels as potential downside targets.
