FX.co ★ GBP/USD: 1.2212 as key obstacle

GBP/USD: Upside Continuation Needs Confirmation!

The GBP/USD pair registered a strong upside movement in the short term and now is trading at 1.2173 at the time of writing. Technically, the uptrend line stands as a downside obstacle while the 1.2212 former high represents an upside obstacle.

As long as the instrument stays above the uptrend line, the currency pair could resume its upwards movement.

GBP/USD Trading Conclusion!

Jumping and stabilizing above 1.2212 activates further growth and is seen as a new buying opportunity.