Currently in a bullish phase, the GBP/USD pair may continue its upward trend towards the 1st resistance at 1.2999. This resistance is an overlap resistance enhanced by a confluence of 78.60% Fibonacci retracement and projection levels, along with a 161.80% Fibonacci expansion. If broken, the price may aim for the 2nd resistance at 1.3143, aligned with a 100% Fibonacci projection. Conversely, if the price declines, it could find substantial support at 1.2847 and 1.2754, both serving as overlap supports.
The material has been provided by InstaForex Company – www.instaforex.com
Currently in a bullish phase, the GBP/USD pair may continue its upward trend towards the 1st resistance at 1.2999. This resistance is an overlap resistance enhanced by a confluence of 78.60% Fibonacci retracement and projection levels, along with a 161.80% Fibonacci expansion. If broken, the price may aim for the 2nd resistance at 1.3143, aligned with a 100% Fibonacci projection. Conversely, if the price declines, it could find substantial support at 1.2847 and 1.2754, both serving as overlap supports.
The material has been provided by InstaForex Company – www.instaforex.com
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