The pair remains in an ascending channel with support at the nine-day EMA, while RSI signals steady bullish momentum.
GBP/USD trades around 1.3430, extending a four-day decline but maintaining a bullish bias as it stays above both the nine-day and 50-day EMAs. The alignment of these moving averages below the price reinforces the uptrend, while the 14-day RSI at 55 indicates stable positive momentum.
The pair remains within an ascending channel, with resistance near 1.3630 and a potential test of the May 1 high at 1.3658. A break above could target 1.3869, the highest level since September 2021. Downside support is seen at the nine-day EMA of 1.3426, with further backing at the 50-day EMA of 1.3386.
A drop below the 50-day EMA would expose the June 24 low of 1.3140, marking an eight-month trough.