GBP/USD prints mild gains around mid-1.2200s as it defends the previous day’s rebound from the key moving average during early Monday’s sluggish trading.
In doing so, the Cable pair crosses a two-day-old descending resistance line, now immediate support around 1.2240.
It’s worth noting that the bullish MACD signals and gradually recovering RSI (14), not overbought also underpin the latest rebound in the Cable pair, which in turn suggests the quote’s further advances.
However, the 100-Hour Moving Average (HMA) restricts the immediate upside of the GBP/USD price to around the 1.2260 level.
Following that, the previous support line from March 08, close to 1.2320 at the latest, may act as the last defense of the GBP/USD pair sellers, a break of which opens the gate for the pair’s run-up towards the multiple tops marked during December 2022 and January 2023 near 1.2445-50.
On the contrary, pullback moves need to remain below the 1.2240 resistance-turned-support to lure intraday sellers.
Even so, the 200-HMA level of 1.2200 and the latest swing low of around 1.2190 can challenge the GBP/USD bears before giving them control.
Overall, GBP/USD is likely to grind higher but the upside momentum need validation from 1.2320.

Trend: Further upside expcted
© 2000-2025. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.