GBPUSD Technical Analysis: The GBP/USD pair is trading in a weak uptrend, with a daily high of 1.3407 and a low of 1.3358, while the current price is 1.3387. This indicates the beginning of a new uptrend, as prices separate some positive points.
GBPUSD Technical Analysis Technical Analysis:
Prices are currently trading above the moving averages, which supports the positive outlook in the short-term. However, the MACD indicator shows weakness in the uptrend, reflecting some hesitation in the strength of the current movement.
GBPUSD Technical Analysis Trading Expectations During the Day:
Based on the technical analysis, trading is expected to continue in an upward range, but with caution for any potential corrections. It is preferable to monitor the support levels at 1.3350.
GBPUSD Technical Analysis Trading Strategy:
It is recommended to focus on buying points around 1.3360 with stop loss orders placed below the 1.3350 level. If the uptrend continues, we may see the pair heading towards the 1.3400 and 1.3430 levels.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3407 | 1.3334 | Entry point |
| First resistance: 1.3445 | First support: 1.3302 | Target Point 1 (TP1) |
| Second resistance: 1.3475 | Second support: 1.3285 | Target Point 2 (TP2) |
| 1.3334 | 1.3407 | Stop Loss (SL) |
The overall trend of the pair remains bullish despite the current weak movement. It is advisable to trade with caution and follow any major market movements to ensure achieving the desired targets.
