FX.co ★ GBP/USD aims at 1.2437 former high

GBP/USD Uptrend Intact!

The GBP/USD pair extended its growth and now is trading at 1.2396 at the time of writing. The uptrend line stands as a downside obstacle. Now, it's almost to reach the 1.2437 former high (historical level) which stands as an upside obstacle.

After its strong growth, we cannot exclude a temporary drop after reaching 1.2437. It could come back to test and retest the uptrend line before resuming its growth. As long as it stays above it, the GBP/USD pair could approach and reach new highs.

GBP/USD Trading Conclusion!

Jumping and stabilizing above 1.2437 may announce further growth and could represent a buying signal.