GBP/USD Price Analysis: Technical outlook
The GBP/USD resumed its uptrend following Powell’s speech and US economic data, with buyers targeting the 1.2800 figure. It should be said that Relative Strength Index (RSI) studies are bullish and not in overbought territory, an indication that the rally has legs. Above 1.2800, the next resistance would be the psychological 1.2850, followed by the 1.2900 mark. On the other hand, if sellers drag the exchange rate below the March 6 high of 1.2761, that could open the door for a correction. The next support would be today’s low at 1.2722, followed by the 1.2700 figure
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