GBP/USD Trends Higher

GBP/USD has seen an upward trend for three days straight, trading around 1.3600 during the Asian session on Thursday. A look at the daily chart indicates that this bullish trend is gaining strength as the pair recovers from the lower boundary of its ascending channel.

The currency pair is holding just above the horizontal pivot point at 1.3600, which supports a positive outlook. It’s also positioned above both the 9-period and 50-period exponential moving averages (EMAs), reinforcing the broader uptrend.

The 14-day Relative Strength Index (RSI) sits close to the 60 mark, indicating a building bullish momentum, although it hasn’t surged significantly just yet.

A key resistance level for GBP/USD could be the 11-week peak of 1.3758 achieved on May 1. If the pair breaks through that, it might venture toward 1.3869, a high not seen since January 27, 2021, before possibly reaching the upper limit near 1.4040.

On the downside, immediate support for GBP/USD is found at the 9-day EMA around 1.3556. The ascending channel’s lower boundary could provide further support at approximately 1.3540, followed by the 50-day EMA at 1.3467.

If the pair falls below this medium-term average, it may decline to the 5-month low of 1.3159 set on March 31, followed by a deeper drop to 1.3010, which was its lowest point since April 2025.