Good morning traders, today we bring you an analysis on the GBP/USD pair, since it is at a critical and decisive point for the movement of the next few days.
🔸As we can see, the price is in a clear uptrend. We can see this by tracing the bullish channel.
🔸At this moment, the price is facing the lower trendline.
🔸From here, the two potential moves are as follows:
1) An upward bounce, and its subsequent continuation of the trend, whose target is the resistance zone at 1.44000.
2) A breakout to the downside, which would imply a corrective move. The first target of this movement is the next support zone at 1.34500.
🔸As we can see, the price is in a clear uptrend. We can see this by tracing the bullish channel.
🔸At this moment, the price is facing the lower trendline.
🔸From here, the two potential moves are as follows:
1) An upward bounce, and its subsequent continuation of the trend, whose target is the resistance zone at 1.44000.
2) A breakout to the downside, which would imply a corrective move. The first target of this movement is the next support zone at 1.34500.