The Pound Sterling price news and forecast shows that the GBP/USD pair is currently testing the nine-day Exponential Moving Average (EMA) above a descending channel near the 1.2550 level. This indicates a potential shift in the current trend of the currency pair.
The GBP/USD pair has been trading within a descending channel, but the recent move above the nine-day EMA suggests a possible break out of this pattern. Traders will be closely monitoring this development to see if the pair can sustain its momentum above the EMA.
The 1.2550 level will be a key resistance level to watch, as a break above this point could signal further upside potential for the GBP/USD pair. On the other hand, a failure to break above this level could lead to a retest of the lower bounds of the descending channel.
Overall, the Pound Sterling price news and forecast for the GBP/USD pair remains positive as it tests the nine-day EMA above the descending channel near 1.2550. Traders should continue to monitor price action to determine the next potential moves for the currency pair.