GBP/USD: bulls going to deliver new high

There’s a “Double Bottom”, which has been confirmed. Therefore, the pair is likely going to reach the nearest resistance at 1.2595 – 1.2614 in the short term. So, we could have a new high soon. At the same time, bulls will probably try to test a support at 1.2547 – 1.2522 afterwards.

Bulls faced a resistance at 1.2552, so the price is consolidating. In this case, we should keep an eye on the nearest support at 1.2529 – 1.2522 as an intraday target. If a pullback from this area happens, the price is likely going to reach the next resistance at 1.2595 – 1.2614.

gbp

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