GBPUSD H1: Bullish outlook seen, further upside above 1.2250
On the H1 timeframe, prices are testing the resistance zone at 1.2320, in line with the graphical resistance. A break above the upside confirmation level at 1.2320, which is also a supply zone, could provide the bullish acceleration to the resistance zone at 1.2400. Failure to push higher could see prices fall below the downside confirmation level at 1.2250, to the next support zone at 1.2200. Prices are holding above the 20 EMA and Ichimoku cloud, while MACD is showing bullish momentum, supporting our bullish bias.
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.