Mihai_Iacob

Will GbpUsd break above resistance? (Medium term outlook)

Long
FX:GBPUSD   British Pound / U.S. Dollar
Since September's low in 2022, GbpUsd has reversed to the upside and changed the trend once broke back above 1.15.
Corrected twice from the 1.24 zone and each time 1.2 zone (and slightly under) offered strong support with bulls quickly gaining control and leaving long tails on the weekly chart.
At this moment GbpUsd is trading back to the resistance zone and looks determined to break to the upside.
1.22-1.2250 should offer strong support and dips in this zone should be bought in anticipation of a new leg up.
My target for gbpusd is 1.27 in the medium term


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