Forex Pairs Support & Resistance

GBPUSD analsysis for December 01, 2022 – First upside objective reached

Technical
analysis:

analytics63886bb9e1bbd.jpg

GBP/USD
has been trading upside as I expected and the price is
very close to reach our first objective at 1.2150. I see potential
for further growth.

Trading
recommendation:

Due
to the strong rejection of the key support cluster at 1.1900 and
strong bull momentum, I see potential for further upside
continuation.

Watch
for the potential buying opportunities on the intraday dips
with the next upside objective at 1.2320.

MACD
oscillator is showing fresh upside momentum, which is strong sign
that buyers are in control.

Key
support is set at the price of 1.1900

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