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GBPUSD-> Will the price accelerate? Why?

skrimon

Well-known member
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(Chart 1. Daily timeframe. Resistance breakdown and bullish indicators)​


On the global chart, the price breaks through the resistance, which indicates the potential to accelerate growth. The targets that the price is aiming for are 1.2280, 1.2660, and 1.32800. I expect the price fixation above the trend line and the subsequent upward impulse
The price gets support in the form of MA-50 (daily), and indicators RSI and MACD are in a bullish trend.

On the 4h chart, the price has crossed the resistance at 1.17322 and broke through the upper boundary of the channel. After gaining a foothold in the long zone, more rapid growth may follow. The short-term target is resistance at 1.21424, the medium-term target is resistance at 1.22932.
 
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