GBP/USD continues to advance for the second consecutive session, trading around 1.2860 during Asian hours on Thursday.
GBP/USD moves upward within an ascending channel, signaling a bullish bias. The 14-day RSI is positioned just below the 70 level, indicating potential overbought conditions in the pair. A break above the pullback resistance at the 1.2860 level could lead the pair to test the upper boundary. The analysis of the daily chart shows that the pair is moving upward within an ascending channel, which indicates a bullish bias in the pair's price action.
On the downside, the GBP/USD pair could encounter significant support near the 14-day Exponential Moving Average at the 1.2763 level. If this level is breached, it may lead to increased selling pressure, potentially testing the lower boundary of the ascending channel around 1.2740. Further support could be found around the throwback support level of 1.2615.
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