29.09.2023 03:10 PM
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.
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.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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