The price may rise to the 50% retracement level of 1.3457 from the current price of 1.34170. If the market is able to hold above this level, it may go on to the next upward objective of 1.3500, the 61.8% retracement level. The US Dollar Index is hovering at the 96.70 level of support. The 20 EMA at 96.50 serves as support for the U.S. Dollar Index, and a break below that level would be favorable for the GBP/USD currency pair.
In this case, support is found at 1.34080, while the resistance is found at 1.34300. Above the price line, at 1.34220, is the pivot point. To put it simply, the EMA of 10 is moving upward below the EMA of 200 and the EMA of 100 which crossed each other. Stochastic is moving toward the oversold zone. The RSI is moving near the level of 30 and the ADX is not showing a clear signal. The MACD histogram is in positive territory with the rising signals.

• There is resistance at 1.34300, followed by resistance at 1.34440and 1.34520.
• There is support at 1.34080. Below, there is 1.34000 and 1.33860.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

gbpusdanalysis