GBPUSD H4 I Reacting off resistance level?

GBP/USD is exhibiting strong bullish momentum, with the potential to move higher towards the 1st resistance at 1.2259, a historically significant level where price often faces resistance. Conversely, on the support side, the 1st support at 1.2173, identified as a multi-swing low support, and the 2nd support at 1.2118, aligned with the 78.60% Fibonacci Retracement, hold importance as potential areas for buying interest. In summary, the current trend in GBP/USD leans towards a bullish outlook, and traders will closely monitor these support and resistance levels for potential shifts in market sentiment or reversals.

Analysis are provided by InstaForex

Read More https://ifxpr.com/3PWBf6K