The Pound Sterling hit two-month highs above 1.2750 against the US Dollar. The GBP/USD uptrend is likely to stay intact in the holiday-shortened week ahead. The Pound Sterling eyes 1.2900 amid double bullish crossovers and RSI. The Pound Sterling managed to eke out minor gains against the US Dollar this week after the GBP/USD pair touched the highest level in two months above 1.2750.
GBP/USD: Technical Outlook As observed on the daily chart, GBP/USD has been traversing in a seven-week-long rising wedge formation. In order to invalidate the bearish wedge, the pair needs to yield a daily closing above the upper boundary of the pattern, aligned at 1.2765. Acceptance above the latter would negate any near-term bearish bias, opening the door for a retest of the March 21 high of 1.2804. The next topside barrier is seen at the March 8 high of 1.2894, above which a test of the 1.
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