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T3-Consultancy

GBPUSD H1: Bullish outlook seen, further upside above 1.2250

Long
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
T3-Consultancy  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index GBPUSD gbpusdlong gbpusdbullish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usdollar gbpusd gbpusdlong gbpusdbullish forex forexsignals forextrading
On the H1 timeframe, prices are testing the resistance zone at 1.2320, in line with the graphical resistance. A break above the upside confirmation level at 1.2320, which is also a supply zone, could provide the bullish acceleration to the resistance zone at 1.2400. Failure to push higher could see prices fall below the downside confirmation level at 1.2250, to the next support zone at 1.2200. Prices are holding above the 20 EMA and Ichimoku cloud, while MACD is showing bullish momentum, supporting our bullish bias.
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