GBP/USD is trading back and forth around the 1.2660 level and remains within the trading range of Monday. After breaking through this range, the price continues to rise strongly with no signs of a decline in the .
Looking at the chart, we can see that both technical indicators, SMA and RSI, are supporting the upward trend for this currency pair. Especially the SMA 20, it is gradually trending upwards and is far away from other SMAs such as SMA 50 and SMA 100. This indicates that the price is in a prolonged uptrend.
On the other hand, looking at the Relative Strength Index (RSI) indicator, we notice that it is in the overbought zone. This predicts that there may be a price correction, causing the price to retreat in the short term. However, this does not guarantee the end of the upward trend, but rather a minor adjustment before the price continues to rise strongly.
Looking at the chart, we can see that both technical indicators, SMA and RSI, are supporting the upward trend for this currency pair. Especially the SMA 20, it is gradually trending upwards and is far away from other SMAs such as SMA 50 and SMA 100. This indicates that the price is in a prolonged uptrend.
On the other hand, looking at the Relative Strength Index (RSI) indicator, we notice that it is in the overbought zone. This predicts that there may be a price correction, causing the price to retreat in the short term. However, this does not guarantee the end of the upward trend, but rather a minor adjustment before the price continues to rise strongly.
