FX.co ★ GBP/USD analysis for December 01, 2023 - Breakout of the triangle pattern to the upside

Technical analysis:

GBP/USD has been trading upside this morning and I found breakout of the mini triangle pattern formation, which is good sign for the further upside movement.

Due to the breakout of the triangle pattern formation and the rejection of the key support zone at 1.2600, I see potential for the further rally towards upside references.

Upside objectives are set at the price of 1.2076 and 1.2731

RSI oscillator is showing bullish divergence in the background, which is another sign for the further rally.

Key support zone is set at at the price of 1.2600