FX.co ★ GBP/USD Targeting New Highs!

GBP/USD is expected to resume the current upside movement after making another peak high, higher high, after it has broken above the 1.2800 psychological level, upside obstacle.

Technically, the pair could continue to increase as the breakout above the major downtrend line has announce a bullish reversal. A minor drop in the short term towards the 1.28 level will bring another buying opportunity.

• GBP/USD Trading Tips

You can buy a minor decline to the 1.2800 level, or a jump above the 1.2900 psychological level. The next major upside target is seen around the 1.3150 level.

A further increase, upside movement, could be invalidated only by a drop below the 1.2627 static support, downside obstacle.