GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2329, 1.2359, 1.2378

Key Support Levels: 1.2278, 1.2265, 1.2222

4-Hour Chart:

The price on the higher time frame has been in an uptrend for some time and recently the pair did a pullback to find support at the 1.2189 level. It bounced back and has broken a level of 1.2283 which suggests bullish bias.

GBP/USD Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.2222 and 1.2265 and sustained above that. As of now the pair has broken a minor level of 1.2278 and retested before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.22958

TP @ 1.2318

Stop Loss @ 1.22737

Trade Safely 🙂