FX.co ★ GBP/USD: upside continuation possible

GBP/USD temporary drop

The GBP/USD pair climbed as high as 1.2282 yesterday where it found strong supply again. Technically, this level stands as an upside obstacle. It has now dropped a little and is trading at 1.2215 at the time of writing.

The uptrend line stands as a downside obstacle. As long as it stays above it, the rate could resume its growth.

GBP/USD trading conclusion

Staying above the uptrend line and passing beyond 1.2282 activates further growth. This scenario is seen as a new buying opportunity.