GBPUSD: Recovery again?
Hello everyone, here!
Today, after a positive close for two consecutive days, GBP/USD has regained momentum and climbed above the 1.2500 level for the first time in nearly two weeks. The short-term technical outlook for this currency pair indicates an upward trend as it has successfully surpassed the resistance level at 1.248 and turned it into a new support level.
The price action currently shows a convergence between the two EMA lines and this support level, therefore, the outlook is aimed at higher levels, surpassing the resistance level at 1.256.
Wishing you all a happy weekend of trading!
Today, after a positive close for two consecutive days, GBP/USD has regained momentum and climbed above the 1.2500 level for the first time in nearly two weeks. The short-term technical outlook for this currency pair indicates an upward trend as it has successfully surpassed the resistance level at 1.248 and turned it into a new support level.
The price action currently shows a convergence between the two EMA lines and this support level, therefore, the outlook is aimed at higher levels, surpassing the resistance level at 1.256.
Wishing you all a happy weekend of trading!
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