GBPUSD is growing within the ascendant channel creating higher highs and higher lows.
The support rests at 1.23810 with resistance at 1.25120 which both lines are above the weekly pivot point at 1.23020. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in the overbought area, the Stochastic is moving in its high rates and the MACD indicator is in positive territory. The ADX is showing buy signals.
The price has already crossed the 61.8 level of Fibonacci and the resistance line seems to be strong to be broken therefore the pair will rise towards the 1.25 area but later sellers can target 1.2300.

gbpusd analysis