GBP/USD Price Analysis: Holds above the 1.2800 mark, eyes on the 1.2850 level GBPUSD Technical Analysis Currencies
From a technical perspective, the path of least resistance for the GBP/USD is to the upside as the pair holds above the 50- and 100-day Exponential Moving Averages on the daily chart. Additionally, the Relative Strength Index stands at 61.70, portraying the bullish territory for the pair.
The next barrier is seen at 1.2975, the horizontal line and a low of April 13. A break above the latter will see a rally to 1.3248, a high of March 23. The breach of the latter would drag the pair toward the next contention at 1.2600. This level is a confluence of a psychological round mark, the lower limit of Bollinger Bands, and the 50-day EMAe. A decisive break below the key demand area will see a drop to 1.2462, the 100-day EMA.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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