Hello everyone, Brina here!
Today, after closing positively for the second consecutive day on Thursday, GBP/USD has regained momentum and climbed above 1.2500 for the first time in nearly two weeks. The short-term technical outlook for this pair indicates an uptrend as it has successfully broken through the resistance at 1.248 and transformed it into new support.
Price action is now showing a confluence between the two EMA lines and this support, so the outlook targets higher levels beyond the resistance at 1.269 after surpassing 1.256.
Wishing you all a happy trading weekend!
Today, after closing positively for the second consecutive day on Thursday, GBP/USD has regained momentum and climbed above 1.2500 for the first time in nearly two weeks. The short-term technical outlook for this pair indicates an uptrend as it has successfully broken through the resistance at 1.248 and transformed it into new support.
Price action is now showing a confluence between the two EMA lines and this support, so the outlook targets higher levels beyond the resistance at 1.269 after surpassing 1.256.
Wishing you all a happy trading weekend!
