GBP/USD: Positive run for the pound

GBP/USD Tuesday's four-hour chart is positive for the pound, according to FXStreet’s analyst Yohay Elam.

Key quotes

“GBP/USD is benefiting from upside momentum on the four-hour chart and has edged above the 50 and 200 Simple Moving Averages, a bullish sign. However, the cable is trading in a narrow range and surpassing these SMAs an easier task.”

“Resistance awaits at 1.2450, the weekly high, followed by 1.2525, the peak in mid-April.”

“Support is at the round number of 1.24, which is the daily low. It is followed by 1.2360, which was a stepping stone on the way up.”