FX.co ★ GBPUSD closer to target

GBPUSD is trading at 1.39. Since the end of 2020 our analysis remains valid and we are on our way to reach our target of 1.40. Price continues making higher highs and higher lows. Price continues to respect key support trend line.

Red line - horizontal support

Blue lines - breakout size

GBPUSD support by the green trend line support is at 1.36. As long as price is above this level we continue to expect price to reach 1.40. We are just 100 pips away from the target. The RSI is making new highs giving confidence that the uptrend could continue.