GBP/USD started a fresh increase from the 1.3000 support zone. GBP/JPY is also rising and might gain pace above the 157.20 resistance zone.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a fresh increase from the 1.3000 support zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.3145 on the hourly chart of GBP/USD.
· GBP/JPY also started a fresh increase after it cleared the 155.00 resistance zone.
· There is a short-term rising channel forming with support near 156.65 on the hourly chart.
GBP/USD Technical Analysis
After forming a base above the 1.3000 support zone, the British Pound found started a fresh increase against the US Dollar. The GBP/USD pair gained pace above the 1.3120 resistance zone to move into a positive zone.
There was also a break above the 1.3150 zone and the 50 hourly simple moving average. It even spiked above the 1.3200 level, but failed to continue higher. The recent high was formed near 1.3196 on FXOpen and the pair is now correcting lower... More info: blog FXOpen
