FX.co ★ GBPUSD analsysis for December 02, 2022 - Second target has been reached and potential for the third target to be on the test

Technical 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