The GBPUSD pair managed to surpass 1.2380 to the upside to get strong positive push that carries the price to approach from the next correctional target at 1.2460, and the price keeps moving above the exponential moving average 100 to get more support to the continuation of rising in the coming period.
Thus, we will be waiting to surpass 1.2460 level to move towards 1.2560, noting that the price stability above 1.2300 is considered as an important condition to continue the expected rise, as breaking it will push trading to test 1.2200 level again.
Support & Resistance:
Support 1.2380 1.2300 1.2240
Resistance 1.2460 1.2560 1.2600
Recommendation GBPUSD is positive above 1.2380, targets at 1.2460 and 1.2560, risk limit below 1.2300.
Reverse scenario GBPUSD will be negative below 1.2300, targets at 1.2200 then 1.2100, risk limit above 1.2380.
Thus, we will be waiting to surpass 1.2460 level to move towards 1.2560, noting that the price stability above 1.2300 is considered as an important condition to continue the expected rise, as breaking it will push trading to test 1.2200 level again.
Support & Resistance:
Support 1.2380 1.2300 1.2240
Resistance 1.2460 1.2560 1.2600
Recommendation GBPUSD is positive above 1.2380, targets at 1.2460 and 1.2560, risk limit below 1.2300.
Reverse scenario GBPUSD will be negative below 1.2300, targets at 1.2200 then 1.2100, risk limit above 1.2380.
