Technical analysis of GBP/USD 05/16/2025
GBP/USD, Daily — Correction After Impulsive Rally
The GBP/USD pair previously showed strong bullish momentum, reaching 1.3445, followed by a correction. The current consolidation is occurring within the 1.3139–1.3445 range.
Key Levels:
Resistance:
1.3445 – recent high, a breakout would confirm continuation of the uptrend
Support:
1.3139 – 23.6% Fibonacci level
1.2953 – 38.2% Fibonacci level, a potential correction target
1.2800 – 50% Fibonacci level, reinforced by the 100-day and 200-day MAs, forming a strong support zone
RSI(14) – currently at 55.37, in the neutral zone, showing no signs of overbought conditions
Price remains above key moving averages, maintaining the bullish trend structure
Conclusion:
GBP/USD is undergoing a correction but remains within a bullish trend. The 1.2800 level is a critical support; as long as it holds, the overall bias stays bullish.
Created by Joshua Hayn
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