The GBP/USD pair extended its new upside movement and now is located at 1.2252. Technically, a new uptrend was signaled after the rate jumped above the downtrend line, after escaping from the down channel.
The uptrend line represents a downside obstacle, so the currency pair could resume its growth as long as it stays above it. Technically, the historical high of 1.22743 stands as an upside obstacle.
GBP/USD Trading Conclusion!
Staging above the uptrend line and jumping beyond 1.2273 indicates further growth.
Dropping and stabilizing below the uptrend line invalidates further growth and brings a new downwards movement.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD 1.2273 Upside Obstacle!
The GBP/USD pair extended its new upside movement and now is located at 1.2252. Technically, a new uptrend was signaled after the rate jumped above the downtrend line, after escaping from the down channel.
The uptrend line represents a downside obstacle, so the currency pair could resume its growth as long as it stays above it. Technically, the historical high of 1.22743 stands as an upside obstacle.
GBP/USD Trading Conclusion!
Staging above the uptrend line and jumping beyond 1.2273 indicates further growth.
Dropping and stabilizing below the uptrend line invalidates further growth and brings a new downwards movement.
The material has been provided by InstaForex Company – www.instaforex.com
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