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GBP/USD has been trading upwards as we expected. The price tested the level of 1.2760. The level at 1.2760 is very important resistance. The potential breakout of 1.2760, would confirm further upward continuation.
Blue rectangle - horizontal resistance
Red line – Tenkan-sen (support1 at 1.2713)
Blue line – Kijun-sen (support2 at 2 1.2706)
Our analysis from yesterday is still active and there is no change in trend dynamic. The buyers are still in control on the 4H time-frame and you should only watch for buying opportunities on the dips. Key resistance is set at the price of 1.2760. Breakout of this resistance would confirm test of 1.2810 and 1.2864.The another confirmation that trend is still bullish is that GBP is trading above the Ichimoku cloud (blue cloud). As long as the price is trading above Ichimoku cloud we advice you to watch for buying opportunities.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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