GBPUSD 4H : Support further rise up

GBPUSD

New forecast

The price perfectly fulfills my last idea and price reached to our first target + 65 pip .

The pound sterling pair against the dollar has resumed its previous trading to touch our first target at 1.2727, and is facing strong resistance there, as it shows some bearish bias now, waiting to gather positive momentum that will contribute to pushing the price to overcome this level and open the way for heading towards 1.2788 and 1.2880 as main targets.

Therefore the upward scenario will be remain valid and effective during coming period and we continue to favor the bullish trend in the immediate and short term with support from the moving average 50, keeping in mind that the continuation of the bullish wave requires stability above the 1.2560 level.

The expect range trading for today it will be between the resistance line 1.2727 and support line 1.2604.

support line : 1.2604 , 1.2534
resistance line : 1.2700 , 1.2727

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