GBP/USD Price Analysis: Aims To Revisit Two-Month Highs, Hovers Above 1.2500

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GBP/USD moves above the 1.2500 level while recovering recent losses.

The pair’s bulls could explore the 1.2550 major barrier as technical indicators suggest strong momentum.

Seven-day EMA appears as a key support aligned with the 1.2450 major level near to the weekly low.

GBP/USD retraces recent losses registered in the previous session, trading higher around 1.2500 psychological level during the Asian session on Thursday.The technical indicators for the GBP/USD pair are signaling a bullish outlook. The 14-day Relative Strength Index (RSI) above the 50 level indicates upward support, suggesting a bullish momentum in favor of the pair.Additionally, the Moving Average Convergence Divergence (MACD) line, positioned above the centerline and exhibiting divergence above the signal line, implies a strong momentum in the GBP/USD pair.The GBP/USD could face a challenge around the region at a major level of 1.2550, nearing a two-month high at 1.2559 level. A firm breakthrough above the latter could inspire the bulls of the pair to test the 1.2600 psychological level.The US Dollar (USD) could improve as investors seem to perceive persistent inflation in the United States (US) following US economic data, which could put pressure on the GBP/USD pair. The seven-day Exponential Moving Average (EMA) at 1.2469 could act as a key support aligned with the 1.2450 major level and the weekly low at 1.2446.A decisive break below the support region could push the GBP/USD pair to navigate the next support area around the 23.6% Fibonacci retracement at 1.2436 followed by the 1.2400 psychological level.GBP/USD: Daily ChartGBP/USD: MORE TECHNICAL LEVELS

OVERVIEW Today last price 1.2509 Today Daily Change 0.0013 Today Daily Change % 0.10 Today daily open 1.2496

 

TRENDS Daily SMA20 1.2313 Daily SMA50 1.2257 Daily SMA100 1.2503 Daily SMA200 1.245

 

LEVELS Previous Daily High 1.255 Previous Daily Low 1.2449 Previous Weekly High 1.2506 Previous Weekly Low 1.2213 Previous Monthly High 1.2337 Previous Monthly Low 1.2037 Daily Fibonacci 38.2% 1.2488 Daily Fibonacci 61.8% 1.2511 Daily Pivot Point S1 1.2447 Daily Pivot Point S2 1.2398 Daily Pivot Point S3 1.2346 Daily Pivot Point R1 1.2547 Daily Pivot Point R2 1.2598 Daily Pivot Point R3 1.2647

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