GBPUSD (4H) still has room to climb

GBPUSD is knocking on the door near the 1.3271 resistance for a second time after staging a steady rebound from a seven-month low of 1.3139.
XM Group | 128 hari yang lalu

Overview: Although the pair remains trapped within a broader descending channel, the strong reaction from the lower boundary suggests buyers are steadily building momentum.

Momentum: The technical picture remains constructive, with the RSI and the MACD holding in bullish territory while the price continues to trade above its SMAs.

Bullish scenario: A convincing break above 1.3271, a specifically above 1.3277, could trigger a fresh rally toward 1.3325. If bullish momentum accelerates, the next major test is likely to come around the 200-SMA and the descending trendline near 1.3360.

Risk: Failure to defend the 20- and 50-SMAs near 1.3211, would undermine the bullish outlook.

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