- GBP/USD remains positive near the highest since March 09.
- A sustained break of the yearly resistance line, bullish MACD favor the buyers.
- Overbought RSI could play its role if prices slip below 1.3020.
GBP/USD takes the bids near 1.3100 during the early Friday morning in Asia. The Cable crossed a downward sloping trend line from December 31, 2019, the previous day. The same gains support from bullish MACD to challenge the March month’s top.
Although 1.3200 is teasing the bulls, multiple upside barriers, comprising highs marked since 2019-end, could challenge the pair’s further upside below 1.3215.
Should there be a clear run-up past-1.3215, December 31, 2019 top near 1.3285 holds the key to the pair’s further rise targeting 1.3515 level, the year 2019 peak.
On the contrary, overbought RSI conditions push the traders to remain cautious if the GBP/USD prices slip below the resistance-turned-support of 1.3020. Though, sellers may wait for a confirmation below 1.3000 while targeting June month’s high of 1.2813.
During the quote’s further weakness past-1.2813, a 200-day SMA level of 1.2706 could flash on the bears’ radars.
GBP/USD daily chart
Trend: Bullish
Share
