The GBP/USD pair is trading at 1.2755 at the time of writing. As you can see on the H1 chart, the price dropped a little after registering a strong upwards movement. It has dropped as much as 1.2700 where it has found strong demand. Technically, the former low represents a downside obstacle.
Now, it has jumped above the downtrend line which represents an upside obstacle. The former high of 1.2744 was seen as an upside obstacle as well. Its failure to drop and stabilize below 1.2700 announced exhausted sellers.
GBP/USD Trading Conclusion!Stabilizing above the downtrend line and above 1.2744 former high indicates further growth and is seen as a new buying opportunity.