Technical analysis of GBP/USD 07/23/2020

The GBP/USD currency pair grows within the ascending channel on the daily timeframe. The price broke through the MA200 resistance at 1.2700 and is currently approaching the resistance level of 1.2800. The technical picture suggests the development of an upward movement with a target in the area of ​​1.3100. Cancellation of the growth option will be the pair’s decline below 1.2250, which will mean the breakout of the channel’s lower border and a signal for a possible trend change on the daily chart.


Created by Joshua Hayn

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