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09:18, 31 января

GBPUSD Daily Analysis

The GBPUSD pair traded with a bullish tone in the last session to end at 1.4147, after hitting a high at 1.4167. As of now, the daily MACD and RSI indicators are placed at a higher level above their midlines, hinting the presence of bullish momentum in the pair. Moreover,  a  signal  line  crossover  from  below  by  the  4H  MACD,  accompanied  by  the  8H  RSI  and  stochastic  indicators  sharply heading north, further confirms the above outlook. Important resistance is positioned at the 1.4227/30 level, followed by the 1.4262/65 and 1.4297/1.4300 levels. A break above the latter might trigger further acceleration to the upside. On the other hand, key technical support is situated at the 1.4160 level, followed by the 4H 20SMA (currently trading at 1.4131/30) and the 2H lower Bollinger band (currently placed at 1.4004/4000). A breach below the latter might lead to negative momentum in the pair.