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GBP/USD holds near 1.3550 as it stays above key moving averages

FXS Fed Sentiment Index at 125.72 points to hawkish positioning, while support sits near the nine-day EMA around 1.3542.

Reported · Written up by our desk · Major Pairs

GBP/USD held its modest bullish bias for a fourth straight day, trading around 1.3550 during European hours on Thursday, according to FXStreet.

The pair remained above both the nine-day and 50-day exponential moving averages, with short and medium term EMAs aligned below price, a setup FXStreet frames as constructive. The 14-day RSI near 54 suggested mildly positive momentum without reaching overbought levels, supporting the view that dips may be bought.

Technical levels highlighted by FXStreet include a potential test of the seven month high near 1.3675, recorded on August 21, with a further ceiling around 1.3750 if that break occurs. On the downside, immediate support is at the nine-day EMA around 1.3542, then the ascending channel lower boundary near 1.3520 and the 50-day EMA around 1.3492, and a sustained move below that confluence would raise the odds of a reversal toward the nine month low near 1.3140 from June 24.

FXStreet also cited the FXS Fed Sentiment Index at 125.72, noting it remains firmly in hawkish territory above the neutral 100 line.

Latest closeGBP/USD 1.355 ▲0.1%

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