Bullish Outlook: GBP/USD Targets Psychological 2.500

GBP/USD is holding its latest increase above 1.2450 in the European trading session on Wednesday. On the 1-hour chart, we see a positive signal as GBP/USD has surpassed both the simple moving averages SMA 20 and SMA 50. The prediction is that the price will surpass the SMA 100, which is a sign of a strong uptrend. And the target is aimed at the psychological level of 2.500.

Additionally, the Relative Strength Index (RSI) is increasing towards the 60 level, indicating a positive sign of the strength of the upward momentum. This increase could be a sign of further price increase before the market enters the overbought zone.

Comment:

Comment:

As predicted, the price has surpassed the SMA 100