GBP/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Currently, GBP/USD is trading around the 1.25000 price level. The currency pair has been trading within a descending channel since October. If a breakout of the descending channel occurs, the inflection point could be considered for the currency pair, possibly testing the 1.28800 price level.

Rejection of the 1.27000 price level would continue the downtrend within the descending channel pattern. If the inflection point is delayed, the 1.25000 price level would act as support. If the 1.25000 level is breached, further price discovery towards 1.23000 is plausible.

The 30-day RSI reflects the price momentum of the currency pair over a 30-day period. A shift in price momentum for GBP/USD can be considered a positive signal for a breakout from the descending channel pattern.
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