- GBP/USD keeps upside break of 50-HMA despite recent consolidation from 1.3642.
- Bullish MACD, sustained trading beyond 100-HMA direct bulls to an ascending trend line from December 22.
GBP/USD picks up bids near 1.3628 during Wednesday’s Asian session. In doing so, the cable consolidates the previous day’s gains while staying above 50-HMA.
In addition to the quote’s successful trading beyond 50-HMA, bullish MACD and GBP/USD buyers’ dominance past-100-HMA also suggest further upside of the pair.
As a result, a short-term resistance line, previous support, around 1.3645, gained immediate attention of GBP/USD bulls.
However, upside moves past-1.3645 will have a bumpy road as the monthly top near 1.3705 and March 2018 low around 1.3710 stands tall to test the GBP/USD strength.
On the flip side, 50-HMA and 100-HMA, respectively around 1.3615 and 1.3550, restrict the short-term downside of the GBP/USD prices.
Should GBP/USD bears dominate past-1.3550, there are multiple supports around 1.3530-20 ahead of highlighting the sub-1.3500 area.
GBP/USD hourly chart
Trend: Bullish
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