Pound Sterling needs to clear 1.2550 to attract bulls – Crypto News

GBP/USD Forecast: Pound Sterling needs to clear 1.2550 to attract bulls

GBP/USD gained traction in the late American session on Wednesday and closed the day in positive territory. The pair stays under modest bearish pressure early Thursday but manages to hold above 1.2500.

Following Tuesday’s rally, the US Dollar (USD) came under heavy selling pressure in the second half of the day on Wednesday and allowed GBP/USD to turn north. Read more…

GBP/USD Price Analysis: Advances to near 1.2550 with expectations of a momentum shift

GBP/USD extends its gains for the second successive session on Thursday, trading around 1.2530 during the Asian session. The pair consolidates within the descending channel on a daily chart, with the 14-day Relative Strength Index (RSI) positioning on the 50-level. A further increase will indicate the weakening of a bearish bias.

Additionally, the Moving Average Convergence Divergence (MACD) indicates a momentum shift as it is positioned above the signal line but below the centerline. This momentum indicator could confirm the weakening of the bearish bias once it breaks above the centerline. Read more…