The price line on GBPUSD price chart started a bullish trend on late September 2022; since then the price line on this pair has been crawling up an ascending channel, and reacting to its base, top and mid line. The price line is now once more approaching the base line of the channel, indicated with sky blue color. The red zone indicates a static support zone which has recently been formed and has already submitted some reactions. Traders should keep a sharp eye on the chart to capture any ascending trigger, there they can enter long positions heading to the resistance level mentioned below.

• There is a resistance level at .23220 followed by resistance at 1.24470 and 1.26600.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.