FX.co ★ GBP/USD Upside Continuation!

GBP/USD is trading at 1.3915 below 1.3951 today's high. The outlook is bullish, so the pair could approach and reach fresh new highs after jumping once again above the up channel's upside line.

In a previous analysis, I've sustained that GBP/USD will increase further if it jumps above the 1.3750 level. The scenario has taken shape and now the price has extended its upwards movement.

1.3857 former high and the up channel's upside line are seen as support levels. The price could reach and retest them before resuming its upwards movement.

Trading Conclusion!

Buy the current minor retreat, decline, if GBP/USD stays above1.3857, or open a long position if the price jumps above 1.3951 former high. 1.4 and 1.4050 could be used as upside targets.