FX.co ★ GBP/USD: new upwards movement?

GBP/USD Above Demand Level!

The GBP/USD pair is located at 1.3014 at the time of writing. After jumping above the downtrend line, the price was expected to grow. The upside movement was stopped by 1.3139, so the former high represents an upside obstacle.

1.3000 psychological level stopped the price in the past, that's why this is seen as a downside obstacle. As long as it stays above it, the price could try to increase again.

GBP/USD Trading Conclusion!

Staying above 1.3000 and jumping above the immediate high of 1.3041 could validate further growth and could bring new buying opportunities.