Currency analyst

GBP/USD: pound is tired of moving southwards

On the GBP/USD daily chart, quotes came closer to the upper boundary of the consolidation range 1,2109-1,2317. Successful test of resistance line will create prerequisites for the continuation of the rally towards 1,248 and 1,285.

On the GBP/USD hourly chart, "bulls" failed to test the resistance line at 1.2215. Nevertheless, they are still determined to break this important level. If they manage to do so, the targets 78.6% and 127.2% in the "Hartley" and "Crab" patterns will be fulfilled. They are located at the 1.24 and 1.257 levels.

Recommendation: BUY 1,2315 SL 1,226 TP1 1,24 TP2 1,257

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