easyMarkets GBPUSD Daily - Quick Technical Overview

From around the beginning of December 2022 GBPUSD is trading inside a range, roughly between the 1.1840 and 1.2440 levels. As long as the pair stays inside that pattern, the medium-term outlook remains neutral. We need to see a clear breakout through one of the sides of the range in order to consider the next medium-term directional move.
From a short-term perspective, GBPUSD is trading below a short-term tentative downside resistance line drawn from the high of February 2nd. To aim higher within the range, a break above that short-term trendline is needed. If that happens, the rate would also be placed above all the EMAs, which may attract a few extra buyers.

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