Yesterday, the GBPUSD pair demonstrated robust upward momentum, following the successful formation of a bullish flag pattern highlighted in our previous analysis. The surge propelled the price towards the anticipated target of $1.2890, with indications suggesting potential further gains. Analysts advise that the bullish bias could extend beyond this mark, eyeing a subsequent target at the $1.3000 level.
Technical indicators, notably the EMA50, continue to lend significant support from below, reinforcing expectations of sustained bullish momentum. Key to maintaining this outlook is the price’s ability to hold steady above the critical level of $1.2780.
For today’s trading session, market expectations range between support at $1.2800 and resistance at $1.2950.