The GBP/USD pair is trading around $1.24088, inching up 0.01% as traders navigate shifting sentiment. The pivot point at $1.24150 is a crucial battleground—staying above it could sustain bullish momentum, while a drop below may invite sellers.
On the upside, immediate resistance stands at $1.24900, followed by $1.25502, where bulls will need strong momentum to break through. On the downside, support at $1.23639 offers a near-term cushion, with deeper losses eyeing $1.22988.
The 50-day EMA at $1.24307 sits slightly above the current price, posing near-term resistance, while the 200-day EMA at $1.24087 acts as immediate support. The upward trendline remains intact, favoring buyers, but a decisive break below $1.24150 could shift momentum sharply in favor of the bears.
