14/04/2025
GBP/USD Weekly Outlook: Pound Sterling buyers return with a bang
GBP/USD: Technical Outlook
The short-term technical outlook for GBP/USD appears in favor of buyers as the 14-day Relative Strength Index (RSI) regained the midline, currently near 61.
Further, the pair has reclaimed its position above all major daily Simple Moving Averages (SMA), adding credence to the bullish potential.
The pair must close the week above the 1.3100 barrier to resume its journey toward the half-yearly high of 1.3207.
The next upside target for buyers is aligned at the 1.3300 threshold.
On a failure to resist at higher levels, sellers could fight back control, with the immediate support seen at the 21-day Simple Moving Average (SMA) at 1.2932.
Additional declines will likely challenge the 200-day SMA at 1.2815, below which the 50-day SMA at 1.2768 will be scrutinized.
A sustained move below that support level will expose the downside toward the 100-day SMA at 1.2638.
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