May 30, 2023

Bulls looking for a fresh corrective high into the 1.36s

  • GBP/USD bulls on the march, eyes on the 1.36 area.
  • A correction on the hourly chart could be rinning its course. 

GBP/USD has been on the march for the latter part of December and is starting the New Year on the front foot. The following illustrates the prospects of a bullish extension for the sessions ahead. 

GBP/USD daily chart

The daily chart shows that the price is on the way towards mitigating the space between here and 1.3605. However, for the meanwhile, there are prospects of pressures to the downside towards 1.3520. 

GBP/USD H1 chart

The hourly chart shows prospects of a price running into support near 1.3520 and correcting back to the upside for a higher high in the coming sessions.

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