Pound to continue strengthening above 1.2380

On daily timeframe GBPUSD has broken the upper line of descending triangle at 1.2370, above this line expect British Pound to strengthen further.

As marked on the intraday chart, GBPUSD may form the bullish impulse wave. Necessary condition for the pair is remaining above the 1.2370 level that is confirmed as (i) wave top.

Target for GBPUSD long in the 1.2600/20 area.

İşlem kapandı: hedefe ulaştı:

Long trade is closed at 1.2597, 2nd test of the dynamic resistance. If GBPUSD breaks above it, it'd instantly rise to the following barrier at 1.2628.