Bullish outlook on GBPUSD: 20 September 2022

On the H1 timeframe, prices are facing bullish pressure from the support zone at 1.134, in line with the 38.2% Fibonacci extension . This provides an opportunity to play the bounce, to the next resistance level at 1.159, in line with the 61.8%% Fibonacci retracement . A break above the upside confirmation level at 1.145 could provide bullish acceleration to the 1.159 resistance zone . Prices are also holding above the Ichimoku Cloud , supporting our bullish bias.