GBPUSD long view

Looking at the chart on the daily time frame, we see that the pound is already gaining gains on the second day. We managed to climb above the 200-day moving cut and gain stronger support for the potential continuation of the bullish trend. If the price continues in the current direction, we will soon test the 78.6% Fibonacci level at 1.39000, and the way of consolidation around that level will show us whether we climb to the previous high at 1.40000 or return to the zone around 1.36000. For the bearish scenario, we need a withdrawal below 50.0% Fibonacci levels and a 50-day and 200-day moving average, after which we are looking for potential first support in the 1.37500-1.38000 zone. For now, we do not have a lower low on the chart, and we expect the bullish trend to continue.