Bullish outlook on GBPUSD: 20 June 2022
On the H1 timeframe, prices are showing a bullish order flow. A throwback to the support area 1.21800, in line with the 78.6%, 127.2% Fibonacci extension and 50% Fibonacci retracement and ascending trend line provides an opportunity to play the bounce to the next resistance target at 1.24800. Prices are holding above Ichimoku cloud and Stochastic shows further upside in prices, in line with our bullish bias.