GBP/USD holds above 50-DMA – Société Générale
Source Fxstreet
GBP/USD remains in an uptrend, consolidating near key resistance at 1.3430, with potential for further gains if this level is breached, Société Générale's FX analysts note.
Uptrend pauses within bullish flag
"GBP/USD up move has stalled after reaching last year high of 1.3430. It has evolved within a flag; this pattern denotes a brief pause within uptrend. The pair has maintained above the 50-DMA (1.3130), which highlights prevalence of upward momentum."
"The MA and recent pivot low near 1.3130 is a short-term support. The pair is inching higher towards 1.3430. Cross above this can lead to an extension in uptrend towards projections of 1.3510 and 1.3620."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Related Instrument
