GBP/USD Imminent Upside Breakout!
The GBP/USD pair jumped above the downtrend line signaling that the downside movement is over and that the pair could develop a new uptrend. As you can see on the H4 chart, GBP/USD stands right below1.3644 former high.
Staying above the uptrend line and jumping also above the 1.3644 high could activate an upside continuation. Technically, if the price jumps and stabilizes above a previous high, the price could resume its growth. Higher highs and higher lows mean that we have an uptrend.
GBP/USD Trading Conclusion!
Jumping and stabilizing above 1.3644 high may signal that the GBP/USD pair could resume its upwards movement towards 1.3700 and 1.3750 levels.
The material has been provided by InstaForex Company - www.instaforex.com