GBP/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
GBP/USD is currently trading above the 1.32000 mark, showing potential for further upward movement towards the 1.35000 level, especially if the key resistance at 1.34000 is successfully breached. If the price breaks through this resistance, it could signal a bullish trend, potentially pushing the currency pair higher. On the other hand, if the pair faces bearish pressure, it may test support levels at 1.30000 and, if further decline occurs, possibly the 1.27000 support level.



Looking at the technical indicators, the simple moving averages (SMA) are currently situated within a range of 1.30300 to 1.29400. This range is important because it is lower than the current market price, which suggests that the currency pair might still be in an uptrend if it remains above these levels. Traders will likely watch for any price action around these SMAs, as a dip below this range could indicate a potential shift in market sentiment, favoring a more bearish outlook for GBP/USD.
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