GBP/USD Price Prediction: Bullish Trend Continues as Crucial Support Levels Remain Unbroken
GBP/USD currency pair continues to uphold its bullish trend, trading above the 1.2600 support level and still within an upward channel pattern. Technical analysis, such as the 14-day RSI at more than 50 and the price still above the nine- and 14-day EMAs, supports the short-term rising trend. Abrupt resistance is at 1.2690, the two-month high, with an additional target to the upside at 1.2811 and conceivably 1.2960 should the uptrend bias intensify. To the downside, support is found at 1.2597 (nine-day EMA) and 1.2565 (14-day EMA), with a break below these potentially causing a drop toward 1.2490, the lower end of the rising channel. KEY LOOKOUTS • GBP/USD is confronted with short-term resistance at the two-month high of 1.2690; a break above might propel the pair to 1.2811 and beyond. • The nine-day EMA of 1.2597 is crucial short-term support; a fall below might undermine momentum, resulting in a possible fall to 1.2490. • The 14-day RSI is still above 50, indicating ongoing bullish momentum and making further gains more likely if the trend continues. • The duo trades in an uptrend channel, with the price action on the side of further gains unless a breakdown at the lower edge at 1.2490 happens. GBP/USD pair remains in its bullish momentum, staying above the 1.2600 support level while trending in an ascending channel pattern. The pair meets short-term resistance at 1.2690, a two-month high, with additional room for further upside to 1.2811 and 1.2960 if the bullish momentum continues. Key support levels to look out for are 1.2597 (nine-day EMA) and 1.2565 (14-day EMA), and a break below these levels may result in a fall towards 1.2490, the lower end of the channel. The 14-day RSI level above 50 confirms further uptrend, strengthening strong short-term price action and suggesting scope for further rises. GBP/USD currency pair continues with its upward strength, staying above 1.2600 support in an upward channel. The resistance is at 1.2690, while the support is at 1.2597. Above-50 RSI of the 14-day period indicates strength to continue, with potential to move further upwards if the trend continues. • GBP/USD is still in an uptrend channel, keeping gains above 1.2600 support. • Breaking above this two-month high has the potential to send the pair up to 1.2811 and above. • The nine-day EMA is the initial support, then 1.2565 (14-day EMA) and 1.2490. • Shows bullish strength, meaning the pair can continue its rise. • Price is above both the nine-day and 14-day EMAs, ensuring short-term bullish momentum. • If the resistance levels are broken, the pair could head to the upper edge of the channel. • A fall below 1.2490 may douse the bullish sentiment and create a reversal. GBP/USD currency pair remains to show resilience in the market, underpinned by a stable trading scenario. Investor sentiment towards the British pound continues to be positive, fueled by general economic circumstances and market sentiments. The currency pair shows a steady trend, mirroring the continued economic engagement between the UK and the US. Traders are following closely major developments such as monetary policies, inflation figures, and economic indicators that could affect long-term price action. Market participants are still active, evaluating possible opportunities while monitoring overall macroeconomic trends. GBP/USD Daily Price Chart TradingView Prepared by ELLYANA GBP/USD is still the area of interest for investors and traders who want stability and growth. As the overall economic environment changes, trade relations, central bank policy, and geopolitics become major contributors to market dynamics. The capacity of the pair to maintain momentum showcases the equilibrium between demand and supply, as well as the faith in each economy. Market trends are still being watched by traders, making adjustments in their strategies according to economic analysis and sector developments. TECHNICAL ANALYSIS GBP/USD currency pair has a bullish framework, trading in an ascending channel pattern and above critical support levels. 14-day RSI is still above 50, which signals ongoing positive momentum, and the pair remains above the nine-day and 14-day EMAs, confirming short-term strength. Short-term resistance is at 1.2690, with additional upside targets of 1.2811 and 1.2960 in case bullish momentum continues. On the negative side, major support levels are at 1.2597 (nine-day EMA) and 1.2565 (14-day EMA), and a possible pullback to 1.2490 if there is increased selling pressure. Overall, technical indicators point towards an extension of the uptrend unless major support levels are breached. FORECAST GBP/USD currency pair maintains a bullish outlook, with a possibility of extending gains if it breaks above major resistance levels. Successful breakout of 1.2690 would take the pair up towards 1.2811, the three-month high, followed by the ceiling of the upward channel at 1.2960. The pair continues to be sustained by robust short-term moving averages, supporting the chance of more up movement. On the expectation of favorable market mood, given stability in economics and a weak US dollar, GBP/USD is likely to maintain its strength with increased buying appetite. GBP/USD is at risk of going lower if it is unable to maintain above important support levels. Breaking below 1.2597 (nine-day EMA) may weaken the near-term trend, which can result in a possible test of 1.2565 (14-day EMA) and further to 1.2490, the lower limit of the rising channel. In the event of intensified selling pressure on account of unforeseen macroeconomic developments or a change in market sentiment, the pair may move lower, testing lower supports. A move below 1.2490 can confirm a stronger correction, flipping the near-term bias to bearish.