The pair continued its steady upward trend after breaching important resistance levels, indicating a clear dominance of buying forces and the absence of effective selling pressure
Technical Indicator Analysis
Moving Averages
The pair is trading above its short-, medium-, and long-term moving averages, with the moving averages arranged in ascending order, reinforcing the uptrend
MACD
The indicator reflects strong positive momentum with the bars remaining above the zero line and the gap between the signal line and the indicator line widening.
Stochastic
Rebounded from oversold areas and is heading upward, supporting the continuation of positive momentum in the short term.
Possible Scenarios
Bullish Scenario
Rebounded from oversold areas and is heading upward, supporting the continuation of positive momentum in the short term.
Bearish Scenario
any break below 1.1380 could push the pair to correct towards 1.1356, but it will remain in an upward range unless this support is broken.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.14249 | 1.13802 | Entry point |
| First resistance: 1.14486 | First support: 1.13563 | Target Point 1 (TP1) |
| Second resistance: 1.14687 | Second support: 1.31362 | Target Point 2 (TP2) |
| 1.13802 | 1.14249 | Stop Loss (SL) |
The trend remains strongly bullish, supported by technical buying momentum from indicators, and price stability above 1.1392 maintains the positive scenario.
It is preferable to exploit pullbacks as re-entry zones with the general trend.
