FX.co ★ GBP/USD: upside continuation still in cards

GBP/USD Sideways Movement!

The GBP/USD pair is moving somehow sideways, having failed to reach the 1.2437 historical level (upside obstacle). Wednesday's high of 1.2415 represents an upside obstacle as well. As you already know from my analyses, the price could resume its growth (uptrend) as long as it stays above the uptrend line.

Technically, the uptrend line and the 1.2320 former low represent downside obstacles. Dropping and stabilizing below these levels may announce a new downside movement.

GBP/USD Trading Conclusion!

Jumping above the 1.2437 upside obstacle may announce further growth ahead.