In recent days, there has been a significant positive trend in the GBP/USD pair. Rising over the first pivot point resistance, it encountered several difficulties. While the Relative Strength Index (RSI) has retreated below the overbought level, the pair continues to trade slightly above the 25-day and 50-day moving averages.
As buyers attempt to move to the second resistance at 1.1800, the bullish trend is expected to resume.
• There is resistance 1.14148 followed by resistance at 1.15964 and 1.16752
• There is support at 1.14970, Below, there is 1.12263 and 1.11543
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.
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