The GBP/USD pair continues to move upwards from the level of 1.3707. Today, the first support level is currently seen at 1.3707, the price is moving in a bullish channel now.
Furthermore, the price has been set above the strong support at the level of 1.3707, which coincides with the daily support.
This support has been rejected several times confirming the veracity of an uptrend this week.
According to the previous events, we expect the GBP/USD pair to trade between 1.3707 and 1.3928.
So, the support stands at 1.3707, while daily resistance is found at 1.3796. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.3796.
In other words, buy orders are recommended above the spot of 1.3796 with the first target at the level of 1.3859; and continue towards 1.3874.
On the other hand, if the GBP/USD pair fails to break through the resistance level of 1.3796 today, the market will decline further to 1.3669.
The material has been provided by InstaForex Company – www.instaforex.com
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