FX.co ★ GBPUSD analsysis for December 01, 2022 - First upside objective reached

Technical analysis:

GBP/USD has been trading upside as I expected and the price is very close to reach our first objective at 1.2150. I see potential for further growth.

Trading recommendation:

Due to the strong rejection of the key support cluster at 1.1900 and strong bull momentum, I see potential for further upside continuation.

Watch for the potential buying opportunities on the intraday dips with the next upside objective at 1.2320.

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.1900