When it comes to the GBP/USD pair, the pair is now attempting to break through the resistance level of 1.2530, while the US dollar is losing value versus a wide basket of currencies. The U.S. Dollar Index has been unable to hold above the resistance level of 103.60 and is now probing the support level of 103.25 in the process. If this test is successful, the U.S. Dollar Index will advance towards the next support level at 103, which will be positive for the British Pound/US Dollar exchange rate.

In this case, support is found at 1.25060, while the resistance is found at 1.25870. Below the price line, at 1.25410, is the pivot point. To put it simply, the EMA of 10 is in a bearish movement below the EMA of 200 and the EMA of 100 which are slightly moving downward. Stochastic is moving toward the overbought zone. The RSI is moving toward the level of 70 and the ADX is showing a rising signal. The MACD histogram is in positive territory with the signals showing an uptrend.

• There is resistance at 1.25870, followed by resistance at 1.2622 and 1.26680.
• There is support at 1.25060. Below, there is 1.24600 and 1.24250.

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.