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02.12.202210:12 Forex Analysis & Reviews: GBPUSD analsysis for December 02, 2022 - Second target has been reached and potential for the third target to be on the test

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Technical analysis:

Exchange Rates 02.12.2022 analysis

GBP/USD has been trading upside as I expected and the price has reached our second upside objective at the price of 1.2300. Anyway, due to the strong upside momentum in the background, I see potential for further upside movement.

Trading recommendation:

Due to the strong upside pressure in the background and bull flag pattern in creation, I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the next main upside objective at 1.2450-1.2500

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.2225

Petar Jacimovic
Analytical expert of InstaForex
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