GBPUSD is currently in a short-term uptrend. The EMA 34 is above the EMA 89, indicating that buying pressure still dominates the market.
The chart shows that the EMA 34 remains above the EMA 89, but if there is a downward correction, the EMA 34 could potentially cross below the EMA 89, signaling a bearish trend.
The RSI (14) is currently at 52-54, suggesting that upward momentum remains but is close to the overbought region. If it surpasses 70, there might be a correction or a bearish reversal.
If the price fails to break through the resistance level of 1.32800, GBPUSD might revisit the support level of 1.30600.
Regarding news: Investors are awaiting interest rate signals from the Fed; if rates are increased, the USD will strengthen, putting downward pressure on GBPUSD. The BoE also faces pressure to adjust rates due to high inflation and the challenging economic conditions in the UK.