GBP/USD Is Climbing

GBP/USD reached the resistance at 1.2674, formed a shooting star candlestick on the daily time-frame and started dropping, but it appears that the move to the downside is over for now, because the pair found support at 1.2420, which coincides with the (MA)89 indicator on the four-hour time-frame, tested it twice, formed spinning top candlesticks on both the four-hour time-frame and the daily time-frame and started moving to the upside once again. The pair is currently testing the resistance at 1.2500, and a breakout above that level will likely lead to a further move to the upside towards the next level of resistance at 1.2620. A breakout above that level in turn will be an opportunity to test the previous high at 1.2674.