FX.co ★ GBP/USD: upside reversal still possible

GBP/USD New Upwards Movement!

The GBP/USD pair turned to the upside again and now is trading at 1.2409 at the time of writing. Breaking above the downtrend line announced that the downside movement could be over and that the buyers could take it higher again. Still, after the last strong growth, a temporary retreat was natural.

Now, it could approach and reach the 1.2437 former high which represents an upside target and obstacle.

GBP/USD Trading Conclusion!

Jumping and stabilizing above 1.2437 is seen as a buying signal. This scenario activates further growth.