The GBPUSD pair showed good rise yesterday after managing to surpass 1.2300 barrier, to continue recovering on the short term basis, and the next correctional target is located at 1.2460, while the price needs to surpass 1.2380 to confirm the continuation of rising in the coming period.
1.2300 level forms important support ground to continue the expected bullish trend, and breaking it will push the price to 1.2200 direct before managing to recover again.
Support & Resistance:
Support 1.2300 1.2240 1.2200
Resistance 1.2380 1.2460 1.2560
Recommendation GBPUSD is positive above 1.2300, targets at 1.2380 and 1.2460, risk limit below 1.2200.
Reverse scenario GBPUSD will be negative below 1.2200, targets at 1.2100 then 1.2038, risk limit above 1.2300.
1.2300 level forms important support ground to continue the expected bullish trend, and breaking it will push the price to 1.2200 direct before managing to recover again.
Support & Resistance:
Support 1.2300 1.2240 1.2200
Resistance 1.2380 1.2460 1.2560
Recommendation GBPUSD is positive above 1.2300, targets at 1.2380 and 1.2460, risk limit below 1.2200.
Reverse scenario GBPUSD will be negative below 1.2200, targets at 1.2100 then 1.2038, risk limit above 1.2300.
