FX.co ★ GBPUSD analsysis for May 08 , 2023 - Strong upside cycle and buyers in control

Technical analysis:

GBP/USD has been trading upside as I expected and there is the breakout of the triangle pattern, which is very strong confirmation for the further growth short-term and mid-term...

Due to the breakout of the triangle pattern and the strong bull cycle, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 1.3000 and 1.3750.

Short-term support is set at the price of 1.2350