FX.co ★ GBP/USD analysis for October 24, 2023 - Potential for the further rally after the pullback phase

Technical analysis:

GBP/USD has been trading upside in the background and the price has reached upside objective at 1.2222 but I see pullback this morning and potential for teh further rally after the pullback.

Due to the breakout of the consolidation and strong momentum in the background, I see potential for the further rally after the pullback phase.

Next upside objective is set at the price of 1.2315

RSI oscillator is showing strong bullish trend condition, which is good sign for the further higher prices.

Key support is set at the price of 1.2220