Pound Sterling continues its winning spell for the fifth trading session on Thursday. The GBP/USD pair strengthens after an upside break of the Descending Triangle pattern formed on a daily time frame. The pair has printed a fresh monthly high near 1.2760. An upside break of the aforementioned chart pattern indicates that ticks forming on the upside will be wider than average. The 20-day Exponential Moving Average (EMA) near 1.2670 has tilted towards the north, indicating that the near-term appeal is strong.
The 14-period Relative Strength Index (RSI) climbs above 60.00 for the first time in over two months. This indicates a strong upside momentum ahead as overbought and divergence signals are absent
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