The GBP/USD chart currently shows bullish momentum with potential for an upward move towards the 1st resistance at 1.2213, a significant level due to its alignment with a pullback resistance and the 78.60% Fibonacci Projection. There’s also a 2nd resistance at 1.2288, acting as a swing high resistance.
For support, the 1st level at 1.2054 is a multi-swing low support, while the 2nd support at 1.197 coincides with the 161.80% Fibonacci Extension, both indicating strong potential support. This suggests a bullish trend in the GBP/USD chart.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD chart currently shows bullish momentum with potential for an upward move towards the 1st resistance at 1.2213, a significant level due to its alignment with a pullback resistance and the 78.60% Fibonacci Projection. There’s also a 2nd resistance at 1.2288, acting as a swing high resistance.
For support, the 1st level at 1.2054 is a multi-swing low support, while the 2nd support at 1.197 coincides with the 161.80% Fibonacci Extension, both indicating strong potential support. This suggests a bullish trend in the GBP/USD chart.
The material has been provided by InstaForex Company – www.instaforex.com
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