The short-term trend of the British pound is neutral

The short-term trend of the British pound against the US dollar is neutral. From the buyers’ point of view, if the rate of 1,2666 is broken, the corrective return will start from the level of 1,2154. If GBPUSD crosses the 55-day moving average at 1,2741, resistance at 1,2999 will be the next target of the market.

However, in the eyes of sellers, with the failure of the slight support of 1.2480, the exchange rate of the British pound will be ready to hit the price floor of 1.2154 again.

* Technical H4 analysis of GBPUSD

* Technical daily analysis of GBPUSD