Resistance level 1.2611, 1.2937, 1.2975 Pivot Level 1.2187 Support Level 1.2115 Technical Analysis The GBPUSD pair has closed weekend trading above 1.2115
Resistance level 1.2611, 1.2937, 1.2975
Pivot Level 1.2187
Support Level 1.2115
Technical Analysis
The GBPUSD pair has closed weekend trading above 1.2115 levels to get a good support base that reinforces the expectations of continuing the bullish bias and providing signals for the price recovery in the upcoming days.
This is supported by stochastic positivism that appears clearly on the daily time frame and rises above 50.0 levels. The pair remains bullish for the moment with pair trading on rebound after testing barriers and that makes the trading settle now at the support area and appears in the chart.
Some consolidations would be seen with bullish momentum and further rise is expected from current levels with price action signaling an engulfing bar reversal on the new found support area with the beginning of a new trend where the first main target is located at 1.2611 levels.
This points that breaking 1.2937 levels besides holding above it will push the price to being bullish and that its next target is located at 1.2795 levels.