GBP/USD Technical Analysis: Has a bull breakout to 1.3150 became inevitable? All eyes on the Fed

GBP/USD daily chart

• GBP/USD is trading above its 100 and 200 SMAs as the market is pushing up for the 5th day in a row.

• Investors will closely be watching the Federal Reserve Monetary Policy Statement at 18:00 GMT.

GBP/USD 4-hour chart

• GBP/USD is trading above the main SMAs suggesting bullish momentum in the medium-term.

GBP/USD 30-minute chart

• GBP/USD is trading above its main SMAs suggesting a bullish bias in the short-term.
• Buyers are being relentless and if they break 1.3100 figure then 1.3150 can become the next target.
• Looking down, support is at 1.3050 and 1.3000 level.

Additional key levels