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30.03.2023 08:47 PM
GBP/USD: upside continuation needs confirmation

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GBP/USD Uptrend Intact!

The GBP/USD pair registered a strong upwards movement and now is almost to reach the 1.2431 former high which stands as an upside obstacle and target. Technically, the uptrend line represents a downside obstacle. So, as long as it stays above it, the currency pair could extend its growth.

Only dropping and stabilizing below the uptrend line could announce that the uptrend ended and that the sellers should drag it down again.

GBP/USD Trading Conclusion!

Staying above the uptrend line and jumping beyond 1.2431 activates further growth and represents a buying opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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