The GBP/USD pair is attempting to maintain its gains from the previous session, trading near 1.3300 during the Asian trading hours on Tuesday. Technical analysis suggests a neutral short-term price momentum, as the pair remains close to the nine-day Exponential Moving Average (EMA).
Despite this, the pair’s position above the 14-day Relative Strength Index (RSI) level of 50 indicates a still-present bullish bias. As the pair consolidates around these levels, further price action will be required to establish a clearer directional trend.
The GBP/USD pair faces initial resistance at the nine-day EMA of 1.3303. A successful breakout above this level could signal a shift in momentum, potentially allowing the pair to test the key psychological level of 1.3400. Beyond that, the 1.3445 level—reached on April 28 and the highest since February 2022—could be the next target.
On the downside, the pair has initial support around the 50-day EMA at 1.3054. A break below this level could signal a weakening of medium-term momentum, with the pair likely to test its monthly low of 1.2708, recorded on April 7. Additional support is seen at the two-month low of 1.2577, which was reached on March 3.
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