FX.co ★ dusty24 | GBP/USD

Regarding the GBP/USD pair. The pair is trading above the day's opening level of 1.2540 and above the daily Pivot level of 1.2516. The main indicators show bullish momentum and the price is above the MA72 trend line, where volume distribution usually occurs. If the price moves above the level of 1.2556, we can expect the pair to rise towards the levels of 1.2570 and possibly 1.2600. If the price drops below the level of 1.2540, then I expect the pair to decline towards the level of 1.2516 and possibly 1.2499. The pound is trading above the monthly Pivot level of 1.2499 (1.2695), above the weekly Pivot level of 1.2443, and above the daily Pivot level of 1.2516, indicating a bullish sentiment for the pair. Above the level of 1.2499, the pair has shifted to a bullish bias, while below the weekly Pivot level of 1.2443, the price will continue south. So far, the price has not managed to break below the weekly Pivot level of 1.2443 to the downside, and today the level of 1.2556 is holding the price from above.