Hello everyone,
Today, the GBP/USD pair saw an uptick, approaching 1.2535 at the start of the Asian trading session. This rise is primarily fueled by a sharp decline in the US Dollar (USD) following the Federal Reserve's decision to maintain interest rates.
From the technical charts: GBP/USD has left its previous downtrend behind, embarking on a new upward trajectory with a support level forming around 1.247. Looking ahead, the bulls appear to have the upper hand with immediate resistance targets in sight. The pair is progressively aiming to conquer the 1.256 resistance, with potential sights set on a higher peak at 1.269, as it transforms the 1.256 level into a new support zone.
Today, the GBP/USD pair saw an uptick, approaching 1.2535 at the start of the Asian trading session. This rise is primarily fueled by a sharp decline in the US Dollar (USD) following the Federal Reserve's decision to maintain interest rates.
From the technical charts: GBP/USD has left its previous downtrend behind, embarking on a new upward trajectory with a support level forming around 1.247. Looking ahead, the bulls appear to have the upper hand with immediate resistance targets in sight. The pair is progressively aiming to conquer the 1.256 resistance, with potential sights set on a higher peak at 1.269, as it transforms the 1.256 level into a new support zone.
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