FX.co ★ GBPUSD analsysis for April 26 , 2023 - Breakout of the consolidation to the upside...

Technical analysis:

GBP/USD has been trading upside this morning and I found the breakout of the tight consolidation, which is good sign for the further rally.

Due to the breakout of the tight consolidation this morning and the upside trend on higher time-frame, I see potential for the further upside movement.

Upside objectives are set at the price of 1.2490 and 1.2505

MACD oscillator is showing upside reading and increase in momentum, which is good sign for the further higher prices.

Support is set at the price of 1.2400