GBP touches the target 28/4/2023

The pound achieved our first bullish target, published during the previous analysis at 1.2500, recording its highest level during the early trading of the current session, around 1.2505.

On the technical side, today, the pair keeps the bullish context stable, after establishing a good support floor around 1.2440, accompanied by the positive impulse of the 50-day simple moving average.

The daily trend is still bullish, and we need to see the price consolidating above 1.2510, which increases the possibility of an incline to visit 1.2545 and 1.2565, respectively.

Consolidation of daily trading above 1.2440 is a prerequisite for activating the suggested bullish scenario, and breaking it would directly lead the pair to retest 1.2370.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.2440	R1: 1.2510
S2: 1.2405	R2: 1.2545
S3: 1.2370	R3: 1.2580