- Bulls are in the market and a break of the highs near 1.2450 opens up risk at 1.2670.
- GBP/USD bulls push against neckline resistance.
He GBP/USD It rose to a 7-week high at 1.2349, a key resistance zone as the charts below illustrate.
GBP/USD weekly charts
The inverse head and shoulders pattern is bullish, but the price has not broken the neckline resistance yet and could easily reverse course and head lower.
On the other hand, if the bulls manage to break above the neckline of the 1.2500 zone, they will be in the running for an extended move towards 1.3150:
AUD/USD daily chart
Bulls are in the market and a break of the equal highs near 1.2450 opens up risk at 1.267 and if the bulls commit above 1.2200 then there is prospect of a move towards 1.3150.
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.
