GBPUSD analysis for 25.10.2023

The GBPUSD chart indicates positive upward momentum as it shows a recent rebound from the lower Bollinger Band and is now moving towards the upper band. These observations suggest a possible bullish trend in the price movement.

Moreover, the MACD demonstrates a bullish crossover, with the MACD line surpassing the signal line, reinforcing the upward momentum. The histogram turning positive further supports this bullish sentiment. Traders should monitor for potential resistance at the upper Bollinger Band.

• There is a resistance level at 1.22878; followed by resistance at 1.24243 and 1.27392.

• There is a support level at 1.20380 Below, there are 1.20952 and 1.21603.