FX.co ★ GBP/USD upside continuation possible

GBP/USD attracts more buyers

The GBP/USD pair is likely to move sideways in the short term after registering strong growth. It was trading at 1.1889 at the time of writing. The current range signals that the rate tries to attract more buyers before jumping higher.

Technically, 1.1725 represents a downside obstacle, while the level of 1.1974 is seen as an upside obstacle. Furthermore, the uptrend line and the channel's upside line represent obstacles as well.

GBP/USD forecast

The GBP/USD pair could extend its growth if it jumps and stabilizes above the 1.1974 former high. This may help traders catch further growth.