FX.co ★ Fxcaptain | GBP/USD

T E C H N I C A L _ A N A L Y S I S G B P / U S D Hi, dear forum members, I hope you are doing well and enjoying your trading activities . The GBP/USD is trading at 1.3369 at the time of writing. This chart continues to show signs of strength further as the pair attempts to test the higher resistance level. The current trend in the GBP/USD market is in line with the bulls; there is less bearish sentiment, and the future is now in the bulls' hands. The Relative Strength Index (RSI) is moving away from the sell area. At the same time, the increasing intensity of the bullish signals from the moving average convergence divergence (MACD) indicator strengthens the positive bias. The bullish price is therefore expected to continue to rise. From the chart, the price rises above the 50-day and 20-day moving averages.

The moving averages on the chart suggest that we will soon be back at the next resistance level at 1.5261. It’s worth noting that the 1.4341 threshold can act as immediate upside resistance. If GBP/USD breaks above the resistance line, then it will go up to test the resistance level at $1.5442. An additional rise might be expected if GBP/USD breaches the 1.5442 resistance above 1.4727. On the other hand, it’s worth noting that the 1.3261 threshold can act as immediate downside support. If GBP/USD breaks below the Support line, then it will go down to test the Support level at $1.3164. Additional decline might be expected if GBP/USD breaches the 1.3164 support below 1.3261. Overall, the price of GBP/USD may continue to rise, but the bulls are still not fully in charge. The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: