GBP/USD Bulls Hold Firm Above Key Moving Averages
The GBP/USD pair is maintaining its bullish bias as it holds above both the nine- and 50-day Exponential Moving Averages (EMAs). The alignment of short- and medium-term EMAs below price hints at a still constructive trend.
The 14-day Relative Strength Index (RSI) near 54 suggests mildly positive momentum without entering overbought territory, keeping the pair supported on dips rather than overstretched. Moreover, the technical analysis of the daily chart suggests an ongoing bullish bias as the GBP/USD pair is remaining within the ascending channel pattern.
The FXS Fed Sentiment Index is at 125.72, keeping the gauge firmly in hawkish territory well above the neutral 100 line.
According to technical analysis, the GBP/USD pair may explore the region around the seven-month high of 1.3675, reached on August 21. A break above this level would expose the upper boundary of the ascending channel around 1.3750.