FX.co - GBPUSD analsysis for December 00, 2022 - Potential for the upside continuation

2022-12-07T07:50:33

Relevance until2022-12-08

Technical analysis:

GBPUSD analsysis for December 00, 2022 - Potential for the upside continuation

GBP/USD has been trading downside and the price has reached strong support at the price of 1.2100. I see potential for frutehr growth.

Trading recommendation:

Due to the test and rejection of the key support at the price of 1.2100, I see potential for further growth.

Watch for the potential buying opportunities with the upside objectives at 1.2222 and 1.2265

Stochastic oscillator is showing oversold condition, which is good sign for further upside movement.

Key support is set at the price of 1.2100

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBPUSD analsysis for December 00, 2022 - Potential for the upside continuation