FX.co ★ GBP/USD On The Way Up!

GBP/USD has managed to jump above the 1.3138 previous high, top, so it should continue to increase in the upcoming period. The pair is located within an up channel, the major upside target remains at the upside line of this pattern.

The price has reversed after breaking above the red downtrend line, this it was the first signal that the GBP/USD will register an important upside movement.

• GBP/USD Trading Tips

The breakout above the 1.3138 has represented a good buying opportunity, the next targets are seen at the 1.3230, 1.3282, and higher at the 1.3336 levels, former highs/tops. The major upside target is seen at the upside line.