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More gains in GBP/USD expected

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GBP/USD upside breakout

The GBP/USD pair moved somehow sideways after jumping above the downtrend line. The level of 1.3644 was seen as an upside obstacle. Now it has managed to jump above this obstacle signaling further growth.

Personally, I've drawn an uptrend line. As long as it stays above it, the GBP/USD could resume its growth, its upside journey. I've told you in my previous analysis that the pair may develop an upside reversal if it passes above the former high.

GBP/USD forecast

Jumping above 1.3644 high, an upside obstacle, is seen as a buying opportunity. The 1.3700 psychological level is seen as the first upside target.

The material has been provided by InstaForex Company - www.instaforex.com