FX.co ★ GBP/USD upside continuation

GBP/USD Valid Breakout!

GBP/USD resumed its upwards movement after registering a temporary decline from above 1.3500. I've told you in my previous analysis that the pair could retreat after reaching the 1.35. Also, you knew from my analyses that the currency pair could extend its upwards movement if it jumps and stabilizes above the 1.35 psychological level.

The 1.3500 psychological level represented a strong upside obstacle. After jumping above the downtrend line and bove the 1.3357, GBP/USD was expected to approach and reach the 1.35 level.

GBP/USD Trading Conclusion!

The current breakout above the 1.3500 and above yesterday's high of 1.3506 could activate an upside continuation and is seen as a new buying opportunity with potential target at the 1.3600 psychological level.