GBPUSD - Technical Analysis: Wednesday, 19/04/2017 04:55 GMT

The GBPUSD pair succeeded to rally strongly to the upside yesterday to surpass our waited target at 1.2706 and settles above 1.2800 barrier, noticing that the price completed forming triple bottom pattern, indicating that the price is on its way to achieve more rise on the long term basis.

Hence, we expect witnessing positive trades in the coming period, and the next targets reach to 1.3077, noting that breaking 1.2706 will stop the expected rise and put the price under the negative pressure again.