The British pound continues to grind higher against the U.S. dollar, now trading at 1.2982 (+0.46%), but price action remains capped within a tight consolidation box just below the psychological 1.30 handle.
🔹 Price is holding above the 200-day (1.2809) and 50-day (1.2704) SMAs, maintaining a bullish structure.
🔹 RSI is at 62.90, comfortably in bullish territory but not overbought.
🔹 MACD is flat but still positive, suggesting momentum is stalling but not yet reversing.
The range between 1.2875 and 1.30 has held for over two weeks. A confirmed breakout above 1.30 could set the stage for a rally toward the 0.786 retracement at 1.3148, while a downside break might trigger a retracement toward the 200-day SMA or even 1.2700.
This range won’t last forever — the bulls and bears are coiling for the next big move.
-MW
🔹 Price is holding above the 200-day (1.2809) and 50-day (1.2704) SMAs, maintaining a bullish structure.
🔹 RSI is at 62.90, comfortably in bullish territory but not overbought.
🔹 MACD is flat but still positive, suggesting momentum is stalling but not yet reversing.
The range between 1.2875 and 1.30 has held for over two weeks. A confirmed breakout above 1.30 could set the stage for a rally toward the 0.786 retracement at 1.3148, while a downside break might trigger a retracement toward the 200-day SMA or even 1.2700.
This range won’t last forever — the bulls and bears are coiling for the next big move.
-MW
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.