The GBP/USD pair displays a strong potential to continue its upward trend after successfully breaking above the upper limit of the Bollinger Bands. This breakout signifies that prices have managed to overcome previous resistance levels that were limiting movement, paving the way for further upward movement. The OsMA (Oscillator of Moving Average) indicator also shows a bullish signal, with the histogram beginning to shift into the positive zone, indicating a rise in buying momentum. The combination of the Bollinger Bands breakout and the confirmation from OsMA enhances the short-term bullish outlook for GBP/USD.
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GBP/USD is likely to persist with its ascent on the 15-minute chart, buoyed by the Moving Average (MA) and MACD indicators. Currently, prices are positioned above the MA, suggesting the formation of a short-term bullish trend. Additionally, the MACD indicates a positive signal, with the MACD line tracking above the signal line, and the histogram beginning to rise into the positive territory, reflecting a strengthening buying momentum. If GBP/USD can maintain its position above the MA, along with support from the strengthening MACD, the pair could rise towards the resistance level of 1.30125.
Technical Reference: buy as long as above 1.28995
Potential Take Profit 1: 1.29935
Potential Take Profit 2: 1.30125
Potential Stop Loss 1: 1.29200
Potential Stop Loss 2: 1.28995
