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Bulls have entered the GBP/USD pair on identical highs, while Bears are hiding, and 1.2200 is a crucial support. Investors’ rushing flight to safety around the most recent revelations in the banking industry has eased, and GBP/USD has risen over the 1.22 level for the first time since early February. The following shows a bullish tendency in the present, albeit towards the bear’s den. The pair is trading at 1.2274 at the time of writing.
The GBP/USD pair is now riding a micro-bull trend despite being on the backside of the bullish market. This is where 1.2200 is important. The bulls are taking on equal highs from February in the upper section of the 1.22 range while maintaining a position above 1.2200. The 1.2320s is the current focus.
There is a chance that the micro bull trend and structure in and around 1.2200 will be broken if the bears get involved, given that the price is on the backside of the previous dominating bull trend. If this were to fail, it would be assumed that the bears had regained control.
