FX.co ★ GBP/USD update for December 13, 2021 - Breakout of the downside channel

Technical analysis:

GBP/USD has been trading upside in last few hours and I see potential for the upside continuation. There is the breakout of the downside channel in the background.

Trading recommendation:

Due to the breakout of the downside channel in the background and strong demand, I see potential for the upside continuation.

Watch for buying opportunities on the dips with the upside objectives at 1,2375, 1,3308 and 1,3360.

Stochastic is showing overbought condition but with no evidence for the reversal.

Support level is set at the price of 1,3220