FX.co ★ GBP/USD analysis for November 21, 2023 - Potential for the further rally

Technical analysis:

GBP/USD has been trading upside in the background and I found breakout of the resistance at 1.2515, which is good sign for the further upside movement.

Due to the short-term upside trend and potential for re-test of the support, I see potential for the higher prices towards next upside reference.

Upside objective is set at 1.2580

RSI oscillator is showing reading above 60 level and there is the upside trend condition, which is good sign for the further rally.

Support level is set at 1.2515