GBP/USD has extended its upward momentum, climbing from 1.2664 to a recent high of 1.3246.
What’s Next?
- Continued Uptrend:
- As long as the pair remains within the rising price channel on the 4-hour chart, the uptrend is likely to continue.
- The next targets are around the 1.3350 area, with potential gains extending to the 1.3500 area.
- Key Support Levels:
- On the downside, if the price breaks below the channel support, it could retreat to test the 1.3179 support level.
- A break below 1.3179 could push the price further down toward the 1.3070 area.
Conclusion
GBP/USD is maintaining its strong upward trajectory, with potential targets at 1.3350 and 1.3500. However, traders should be cautious of the key support levels at 1.3179 and 1.3070, as a break below these could signal a shift in the current trend. For now, the uptrend remains intact within the rising price channel.