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– GBPUSD reversed from support area
– Likely to rise to resistance level 1.2365
GBPUSD currency pair recently reversed up with the daily Hammer from the support area located between the long-term support level 1.2095 (former Double Bottom from October), lower daily Bollinger Band and the support trendline of the daily down channel from September.
The upward reversal from this support area started the active medium-term upward correction (4).
Given the strength of the nearby support level 1.2095 and the significant US bearish sentiment, GBPUSD currency pair can be expected to rise to the next resistance level 1.2365.
Source: https://fxpro.news
