GBP/USD Price Analysis: Consolidates Around 1.2750 Followed By A Barrier At 21-Day EMA

GBP/USD halts a four-day winning streak, trading lower near 1.2750 during the early European session on Tuesday. The GBP/USD pair is at a critical juncture, and the possibility of a break below the major level raises the potential for further downward pressure. The 21-day Exponential Moving Average (EMA) at 1.2684 serves as an immediate support level to monitor.A breach below the 21-day EMA could signal increased selling pressure, and the pair might then approach the major support at 1.2650. This level, aligned with the 23.6% Fibonacci retracement at 1.2643, adds technical significance to the support zone.The 14-day Relative Strength Index (RSI) being positioned above the 50 level is a positive sign, indicating bullish momentum for the GBP/USD pair. An RSI above 50 generally suggests that buying pressure is prevailing, and it aligns with the notion of an upward outlook for the pair.In addition, the Moving Average Convergence Divergence (MACD) indicator also provides interesting insights. The fact that the MACD line is above the centerline is a bullish signal, suggesting potential upward momentum. However, the convergence below the signal line may indicate a degree of caution among investors.On the upside, the GBP/USD pair could reach the previous week’s high at 1.2771. A breach above the latter could support the GBP/USD pair to explore the region around the psychological level at 1.2800 followed by December’s high at 1.2827. GBP/USD: Daily Chart GBP/USD: ADDITIONAL TECHNICAL LEVELS

OVERVIEW Today last price 1.275 Today Daily Change -0.0002 Today Daily Change % -0.02 Today daily open 1.2752


TRENDS Daily SMA20 1.2695 Daily SMA50 1.2555 Daily SMA100 1.2448 Daily SMA200 1.254


LEVELS Previous Daily High 1.2767 Previous Daily Low 1.2674 Previous Weekly High 1.2771 Previous Weekly Low 1.2611 Previous Monthly High 1.2828 Previous Monthly Low 1.2501 Daily Fibonacci 38.2% 1.2731 Daily Fibonacci 61.8% 1.2709 Daily Pivot Point S1 1.2695 Daily Pivot Point S2 1.2637 Daily Pivot Point S3 1.2601 Daily Pivot Point R1 1.2788 Daily Pivot Point R2 1.2825 Daily Pivot Point R3 1.2882

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