The GBP/USD remains in a bullish trend, consolidating near the key resistance in 1,3430, with potential for more profits if this level is exceeded, the FX analysts of Société Générale indicate.
Pause in the bullish trend inside a bullish flag
“The GBP/USD bullish movement has stagnated after reaching the maximum of last year of 1,3430. It has been developed inside a flag; this pattern denotes a brief pause within the upward trend. The pair has remained above the 50 -day mobile average (1,3130), which highlights the prevalence of the bullish impulse.”
“The mobile average and the recent pivotant minimum about 1,3130 are a short -term support. The torque progresses slowly around 1,3430. A crossing above this level can lead to an extension of the upward trend towards projections of 1,3510 and 1,3620.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
