(Update) Bullish Signal! Breakout Channel, MA, and MACD Support GBPUSD Rise

The GBPUSD currency pair is starting to indicate a potential bullish trend after successfully breaking out of the Bearish Channel that has been influencing its movement for some time. This breakout serves as an initial signal that buying momentum is strengthening, presenting an opportunity for GBPUSD to continue rising to higher levels.

Technical indicators provide solid supporting signals. The 24-period Moving Average (MA) confirms that current price movements are above the MA line, indicating a shift in trend from bearish to bullish.

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On the 15-minute chart above, GBPUSD also shows potential for growth as the MA is currently below the running price. Additionally, the MACD, located in the positive area, further enhances the upward likelihood. If the scenario unfolds as expected, GBPUSD might target the resistance level at 1.22840.

Technical Reference: buy as long as it stays above 1.21615
Potential Take Profit 1: 1.22615
Potential Take Profit 2: 1.22840
Potential Stop Loss 1: 1.21865
Potential Stop Loss 2: 1.21615