GBPUSD rally slows near key resistance

GBPUSD rally eases near one-month high resistance! Holding above support at 1.3500 keeps 1.3650 & 1.3700 in view, but slowing momentum signals risk.
XM Group | 30 days ago

Overview: GBPUSD continues to hold above all key moving averages after breaking above a medium-term trendline and reclaiming the 1.3500 area. However, the rally is encountering resistance near one-month highs, with upside momentum showing early signs of easing.

Momentum: Momentum indicators suggest the bullish bias is moderating in the near term.

Bullish scenario: A break above the 1.3530-1.3545 resistance zone could revive bullish momentum, potentially exposing 1.3650 and then 1.3700.

Risk: Should the 1.3500 support area fail to hold, downside risks could re-emerge.

XM Group
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