GBP/USD - GBP/USD is Approaching the 100-SMA (4H) - 01/05/2017 (GMT)

The GBP/USD pair climbed sharply higher on Wednesday’s session, surging more than 0.7%. However, sterling traded lower against all the major currencies except against the greenback while is moving towards the 1.2390 resistance level which overlaps with the 100-SMA on the 4-hour chart. If we see a penetration to the upside of the latter level, the price would extend its gains until the 200-SMA on the short-term timeframe. On the same chart, the RSI indicator is following a positive path, above 50, while the MACD has just entered the positive territory and crossed its trigger line to the upside.