GBPUSD Bullish Signals

After a significant big drop, GBPUSD was held by the weekly support level (yellow colour) and was pushed to the upside.

In the daily time frame we can see that the yesterday’s candle was a strong bullish one, and today’s candle has been opened above the yesterday’s one.

Currently, price is facing an upside pressure in 4H time frame as well. There is a resistance level ahead at 1.16200 and if price breaks this level and closes a bullish candle above it in a lower time frame like 1H, we can expect a rise on GBPUSD towards the next resistance levels at 1.16830 and 1.17380