GBPUSD Rises Above 1.33

In European trading hours, the Pound Sterling endeavors to establish a firm position above 1.3300 against the US Dollar. The short - term outlook for the GBP/USD pair remains strong as it stays above the 20 - day Exponential Moving Average (EMA), which is close to 1.3150. Previously, the GBP/USD strengthened following its recovery from a corrective movement towards the trendline drawn from the December 28, 2023, high of 1.2828. After breaking out on August 21, it witnessed a sharp increase from that point.

The 14 - day Relative Strength Index (RSI) moves above 60.00, indicating an active bullish impetus.

Going upwards, the GBP/USD (Cable) will encounter resistance near the psychological level of 1.3500.
On the downward side, the psychological level of 1.3000 becomes crucial support.

MKTNews reports that,
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