GBPUSD is in a bullish momentum, with a higher high and higher low structure, forming a bullish trend. GBP interest rates are about to be release. We are anticipating the support level to be touched at the price of 1.2715. Prices may form a wick at the support level and then continue moving up.

There is only the descending trendline in formation, which would induce a breakout buy once the market beraks out of it.

There is no retracement in this scenario.

EMA 50 is slanting and below the price action. We may see a retest at the support level once the market drops down. This will form a double confluence.

RSI is at 56. It needs to be at the neutralized level of 50 in order to align with the technical parameters.

GBPUSD interest rates with bullish momentum

Jun 22 2023