GBPUSD has been in a prolonged uptrend since October 2022 supported by its long-term ascending trendline. Even though the pair stormed to a fresh 14-month high of 1.2847 on Friday, it quickly pared some gains due to reaching overbought conditions. The momentum indicators currently suggest that bullish forces are holding the upper hand. Specifically, the RSI is hovering slightly below its 70-overbought mark, while the MACD is strengthening above its red signal line in the positive zone. Should buying pressures intensify and the price jump to fresh multi month highs, immediate resistance could be found at the 1.3000 ... (full story)