FX.co ★ GBP/USD broke out of descending resistance line, potential for further rise!

Price broke the resistance line and we might see a further rise above the first support level to its first resistance level. Ichimoku cloud is also showing signs of bullish pressure.

Entry : 1.3013

Why it's good : horizontal overlap support, 38.2% fibonacci retracement

Stop Loss : 1.2979

Why it's good : 50% fibonacci retracement

Take Profit : 1.3122

Why it's good : horizontal swing high resistance, 50% Fibonacci retracement