The GBP/USD pair registered an amazing growth in the short term. It was located at 1.2555 at the time of writing. After jumping above the downtrend line, the price was expected to come back higher, an upside reversal was favored.
It has moved somehow sideways in the short term, trying to attract more buyers before resuming its growth. Now, it has passed above the former high of 1.2540 which represents an upside obstacle.
GBP/USD trading conclusion
Stabilizing above 1.2540 obstacle may announce an upside continuation and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
GBP/USD reversal
The GBP/USD pair registered an amazing growth in the short term. It was located at 1.2555 at the time of writing. After jumping above the downtrend line, the price was expected to come back higher, an upside reversal was favored.
It has moved somehow sideways in the short term, trying to attract more buyers before resuming its growth. Now, it has passed above the former high of 1.2540 which represents an upside obstacle.
GBP/USD trading conclusion
Stabilizing above 1.2540 obstacle may announce an upside continuation and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com