The GBP/USD pair is displaying bullish momentum, with the price currently above a key ascending trend line, indicating potential bullish continuation. However, a bearish reaction at the 1st resistance may lead to a drop towards the 1st support at 1.2855, a pullback support. Should this level be breached, the 2nd support at 1.2635, an overlap support, provides an additional safety net. If the price climbs, it may meet resistance at 1.3288, which aligns with a 100% Fibonacci projection. A further challenge could come from the 2nd resistance at 1.3749, a swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD pair is displaying bullish momentum, with the price currently above a key ascending trend line, indicating potential bullish continuation. However, a bearish reaction at the 1st resistance may lead to a drop towards the 1st support at 1.2855, a pullback support. Should this level be breached, the 2nd support at 1.2635, an overlap support, provides an additional safety net. If the price climbs, it may meet resistance at 1.3288, which aligns with a 100% Fibonacci projection. A further challenge could come from the 2nd resistance at 1.3749, a swing high resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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