GBP/USD could rise to 1.26
Despite Monday’s failure at 50-DMA, the subsequent rebound from the rising trend line seen today, followed by a move to 1.2508 in the US session today… that too in the face of a strong US GDP data… suggests the pair is likely to extend gains to 1.26 levels within next 24 hours.
On the lower side, only a daily close below the rising trend line would signal bullish invalidation and open doors for a revisit to 1.2083 levels.
On the lower side, only a daily close below the rising trend line would signal bullish invalidation and open doors for a revisit to 1.2083 levels.
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