3 min readPOUND VS DOLLAR (GBP/USD):
The British pound has been on a strong upward run over the past few months, with price action steadily climbing as it continues to strengthen against the dollar. Currently trading above 1.33800, the momentum appears to be cooling off slightly for the moment.
On the daily timeframe, it’s clear that we’re approaching the 70% level on the RSI, indicating that the price may be overbought in the short term. If we see a pullback, I’ll be watching closely to see how the price responds to the new support level, which was previously resistance and aligns well with the 50% Fibonacci level. Additionally, we have a strong ascending trend line and the 50 EMA providing dynamic support.
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