GBP/USD Resistance at 1.3470 Caps Sterling's Upside

The British pound's recent recovery is being capped by a downward-sloping trendline near 1.3470 against the US dollar, according to technical analysis.

This level has consistently limited upside attempts in recent sessions and represents a confluence of resistance combining a descending trendline with a prior price ceiling.

Momentum indicators are mixed, with the Relative Strength Index (RSI) hovering near 50 and the Moving Average Convergence Divergence (MACD) remaining below its signal line, suggesting bearish momentum may still be intact.

A break above 1.3470 could shift the technical outlook to a more bullish stance, potentially targeting the 1.3500 psychological level and beyond.