GBP/USD European and US Sessions - Uptrend Continued?

🔔🔔🔔GBP/USD news:

➡️The GBP/USD pair remains in positive territory for the fourth consecutive trading session, hovering around the 1.3000 level during Asian trading hours on Thursday. Daily chart technical analysis indicates a continued uptrend, with the pair moving higher within an ascending channel pattern.

➡️The 14-day Relative Strength Index (RSI) is slightly above 70, signaling strong bullish momentum but also suggesting that GBP/USD is overbought, which could lead to a potential downside correction.

➡️Additionally, the pair continues to trade above the nine-day Exponential Moving Average (EMA), reinforcing strong short-term price momentum and confirming the ongoing bullish trend.

Personal analysis:
➡️GBP/USD remains in an uptrend on the back of more dovish news from the US FOMC meeting.

➡️Technically, the SMA(100) plus the support zone and trendline in this area act as strong support to maintain the uptrend of GBP/USD. So consider this zone to Buy at a good price for you

➡️Analyze based on resistance - support levels combined with SMA and trend lines to come up with a suitable strategy

Plan:
🔆Price Zone Setup:

👉Buy GBP/USD 1.2965 - 1.2950
❌SL: 1.2920 | ✅TP: 1.3010 – 1.3050 – 1.3095

FM wishes you a successful trading day 💰💰💰