The GBP/USD chart displays a bullish momentum, as the price remains above a significant ascending trend line, suggesting the potential for further upward movement. A possible scenario involves a bullish bounce off the 1st support level at 1.2850, which is identified as a pullback support, leading the price towards the 1st resistance at 1.3288. This resistance level is characterized as an overlap resistance. Additionally, the 2nd support at 1.2635 acts as another pullback support, while the 2nd resistance at 1.3749 represents a swing high resistance. These levels may play crucial roles in shaping the price’s movement.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD chart displays a bullish momentum, as the price remains above a significant ascending trend line, suggesting the potential for further upward movement. A possible scenario involves a bullish bounce off the 1st support level at 1.2850, which is identified as a pullback support, leading the price towards the 1st resistance at 1.3288. This resistance level is characterized as an overlap resistance. Additionally, the 2nd support at 1.2635 acts as another pullback support, while the 2nd resistance at 1.3749 represents a swing high resistance. These levels may play crucial roles in shaping the price’s movement.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: