GBP/USD analysis for May 15, 2023 – Potential for the further growth
May 15, 2023 8:24 am
Technical analysis:
GBP/USD has been trading upside this morning and I found rejection of the support level at 1.2450, which is good sign for the further rise.
Due to the strong upside cycle on the GBP/USD and the rejection of the support at 1.2450, I see potential for the further growth towards upside references.
Upside objectives are set at the price of 1.2530 and 1.2610
Stochastic oscillator is showing fresh bull cross and bullish divergence in the background, which is another good sign for the further upside movement.
Key support is set at the price of 1.2450
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
GBP/USD
has been trading upside
this morning and I found rejection of the support level at 1.2450,
which is good sign for the further rise.
Due
to the strong
upside cycle on the GBP/USD
and
the rejection of the support at 1.2450,
I see potential for the further growth towards upside references.
Upside
objectives are set at the price of 1.2530
and 1.2610
Stochastic
oscillator is showing fresh bull
cross and
bullish divergence in the background,
which is another good sign for the further upside
movement.
Key
support
is set at the price of 1.2450
The material has been provided by InstaForex Company – www.instaforex.com
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