The GBPUSD pair rallied strongly after pushing on 1.2460 yesterday, and the price got strong support by the exponential moving average 100, to approach from 1.2560 level again, and we need to surpass this level to confirm the continuation of the bullish wave and head towards 1.2722.
Thus, the bullish trend will remain expected in the coming period, and the price stability above 1.2460 is considered as initial condition to keep achieving the expected gains.
Support & Resistance:
Support 1.2460 1.2380 1.2300
Resistance 1.2560 1.2600 1.2722
Recommendation GBPUSD is positive above 1.2460, targets at 1.2560 and 1.2722, risk limit below 1.2380.
Reverse scenario GBPUSD will be negative below 1.2380, targets at 1.2300 then 1.2200, risk limit above 1.2460
Thus, the bullish trend will remain expected in the coming period, and the price stability above 1.2460 is considered as initial condition to keep achieving the expected gains.
Support & Resistance:
Support 1.2460 1.2380 1.2300
Resistance 1.2560 1.2600 1.2722
Recommendation GBPUSD is positive above 1.2460, targets at 1.2560 and 1.2722, risk limit below 1.2380.
Reverse scenario GBPUSD will be negative below 1.2380, targets at 1.2300 then 1.2200, risk limit above 1.2460
