FX.co ★ GBP/USD: upside reversal taking shape

GBP/USD Strong Growth!

The GBP/USD pair escaped from the downtrend channel pattern signaling that the downside movement ended and that the buyers could take full control.

You knew from yesterday's analysis that jumping and stabilizing above the downtrend line and above 1.1169 could announce a strong upside movement.

GBP/USD Trading Conclusion!

Breaking above 1.1169 was seen as a buying opportunity. The next upside target is seen at the 1.1480 former high which represents an upside obstacle. A larger growth could be activated and confirmed if the price jumps and stabilizes above this level.