GBP/USD Price Analysis: Moves above 1.2550 to test the channel’s upper boundary

GBP/USD could test the immediate throwback support at the 1.2518 level and the nine-day EMA at 1.2514. The momentum indicator MACD could offer a clear bullish direction once it breaks above the centerline. The pair could test the upper boundary of the descending channel around 1.2570 level. The pair consolidates within the descending channel on a daily chart, with the 14-day Relative Strength Index moving above the 50-level. indicating the weakening of a bearish bias.

A break below this level could exert pressure on the pair to navigate the region around the six-month low of 1.2300. On the upside, the immediate resistance appears at the upper boundary of the descending channel around the level of 1.2570 followed by the 50% retracement level at 1.2597 level, plotting between the range of 1.2894 and 1.2300. GBP/USD: Daily Chart GBP/USD Overview Today last price 1.255 Today Daily Change 0.0016 Today Daily Change % 0.13 Today daily open 1.

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