FX.co ★ GBP/USD 11.15.2019 - First upward objective at the price of 1.2896 reached, potential for more upside

GBP did reached our first upward target from yesterday at the price of 1.2896. Since there is the breakout of the important pivot and new momentum upside, there is chance for the next upward target to be on the test at 1.2946.

Stochastic oscillator did enter into the overbought zone now and it seems that buying at this stage looks risky.

The cause of the upside move on the GBP is the completion of the ABC downward correction on the Daily time-frame..

Support level is seen at the price of 1.2896 and resistance at 1.2946.