The British Pound is showing strong bullish momentum against the US Dollar bouncing back sharply after a deep pullback earlier in April
Here’s what’s unfolding
Uptrend Intact The price continues to respect the long-standing ascending channel and upward trendline signaling a continuation of the bullish structure
Breakout in Play? GBP/USD is currently retesting the upper boundary of the ascending channel If price holds and breaks above the recent highs we could see a move toward the resistance zone near 1.34368
Key Levels:
Immediate Resistance 1.34400
Support Zone 1.29800 – 1.28700
Critical Support 1.27100 with a long-term floor around 1.25700
Scenarios to Watch:
Bullish case A strong breakout above the trendline and continuation toward resistance
Bearish case A pullback to retest lower support before a potential bounce
Technical Note The previous consolidation zone acted as a springboard for this sharp upward move As long as the structure holds bulls have the upper hand...
Here’s what’s unfolding
Uptrend Intact The price continues to respect the long-standing ascending channel and upward trendline signaling a continuation of the bullish structure
Breakout in Play? GBP/USD is currently retesting the upper boundary of the ascending channel If price holds and breaks above the recent highs we could see a move toward the resistance zone near 1.34368
Key Levels:
Immediate Resistance 1.34400
Support Zone 1.29800 – 1.28700
Critical Support 1.27100 with a long-term floor around 1.25700
Scenarios to Watch:
Bullish case A strong breakout above the trendline and continuation toward resistance
Bearish case A pullback to retest lower support before a potential bounce
Technical Note The previous consolidation zone acted as a springboard for this sharp upward move As long as the structure holds bulls have the upper hand...
Trade active
Trade closed: target reached
target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.