GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2259, 1.2279, 1.2329

Key Support Levels: 1.2166, 1.2095, 1.2024

Daily Chart:

The price on the higher time frame has been in an uptrend for some time and recently did a pullback to test the support level of 1.8899 and bounced back. The pair has broken a minor level of 1.2137 which suggests trend continuation.

GBP/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.2024 and 1.2095 and sustained above that. The pair has now broken and retested a minor level of 1.2166 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.2207

TP @ 1.2254

Stop Loss @ 1.2160

Trade Safely 🙂