GBPUSD - Technical Analysis: Tuesday, 21/03/2017 07:09 GMT

The GBPUSD pair returns to test 1.2346 level after touching our first target yesterday at 1.2430, and we still waiting to surpass this level to confirm the continuation of the bullish trend on the short term basis, as our next target is located at 1.2536.

Thus, the bullish trend will remain dominant in the coming period, noting that breaking 1.2346 will complete forming bearish pattern that we expect to put the price under negative pressure that will push trading towards 1.2261 then 1.2156.