GBP/USD Price Forecast: Buyers retain control above 200-day SMA

On the daily chart, GBP/USD retains a mildly bullish bias as price holds above the 200-day Simple Moving Average (SMA) at 1.3424 and the nearby horizontal support at 1.3500. The Relative Strength Index (RSI) around 59 suggests positive but not overextended momentum, while the Moving Average Convergence Divergence (MACD) indicator remains in shallow positive territory, hinting that upside pressure is still present but not accelerating.

On the topside, initial resistance is located at the horizontal barrier near 1.3650, where a clear break would open the way for a more convincing continuation of the advance. On the downside, immediate support is seen first at 1.3500, with the 200-day SMA at 1.3424 providing a deeper layer of structural demand should a corrective pullback unfold.