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GBP/USD Price Analysis: Climbs above 1.2500, with bulls targeting 200-DMA

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GBPUSD News

Majors,Technical Analysis

The Pound Sterling advanced sharply against the US Dollar in early trading during Monday’s North American session after hitting a daily low of 1.2474.

GBP/USD rises, rebounding from 1.2474 amid rumors impacting the US Dollar. Currently, GBP/USD tests the 200-day moving average at 1.2555, showing a neutral to slight bearish outlook. Breaking above the 200-DMA may target 1.2600, with potential further gains to 1.2621 and 1.2645. Failure to exceed the 200-DMA could prompt a retest of the 1.2500 support.

2600 figure. Further upside is seen past the 50-DMA at 1.2621, followed by the 100-DMA at 1.2645. Once those levels are surpassed, the 1.2700 mark is up next. Conversely, failure at the 200-DMA adds pressure on Sterling, which could drag the GBP/USD exchange rate beneath the 1.2500 mark. A breach of the latter will expose the April 24 low at 1.2422, followed by the April 22 low at 1.2299. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2532 Today Daily Change 0.

 

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