The GBP/USD pair is moving higher over the last five days and recorded a fresh ten-month high at 1.3157. The buying interest from the traders pushed the price above the strong level at 1.3120 and the next target to have in mind is the 1.3445 resistance barrier. The cable is developing within an ascending tendency since January 2016 following the bounce off the 1.1987 support barrier. In addition, the price is completing the second month in a row and surged almost 2% since last June.
Technically and according to the daily chart, the indicators are endorsing the bullish momentum on price. The RSI indicator is sloping to the upside in the area between the 50 and the 70 level. Also, the MACD oscillator is approaching the trigger line while it is developing above its mid-level. The three simple moving averages (50, 100 and 200) turned to the upside and are signaling further rising.