The GBP/USD pair consolidates near 1.2750 during the Asian session on Wednesday.
GBP/USD may gain ground as technical analysis suggests a bullish bias for the pair. The momentum indicator MACD suggests confirmation of a bullish trend for the pair. The pair may find immediate support at the 21-day EMA at 1.2712, followed by the lower boundary of the ascending channel at 1.2700. The pair maintains its position within an ascending channel pattern on the daily chart, with the 14-day Relative Strength Index above the 50 level, indicating a bullish bias.
To the downside, initial support is evident at the 21-day Exponential Moving Average situated at 1.2715, with further support lying at the lower boundary of the ascending channel around 1.2700. Should the GBP/USD pair breach this level, it might encounter additional pressure, potentially testing the vicinity of the throwback support at 1.2450. GBP/USD: Daily Chart GBP/USD Overview Today last price 1.274 Today Daily Change 0.0000 Today Daily Change % 0.00 Today daily open 1.
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