GBPUSD long view

During the Asian trading session, the British pound strengthened against the US dollar. At the beginning of the European session, we saw a test of the 1.22000 level, and a break above the 1.22200 level happened soon after. The pound is up 0.41% since the start of last night's trading session. If his strengthening continues, a break above the previous week's high could happen. Our next target is high from Friday at the 1.22400 level. After that, we look towards the 1.23000 level as the next potential resistance zone. We need a negative consolidation and a pullback below 1.22000 today's support zone for a bearish option. In the range 1.21600-1.21800, we have support in the MA20 and MA50 moving averages. A drop in the pound below would be a sign that the pound could continue to weaken and descend to lower support zones. Potential lower targets are 1.21500 and 1.21000 levels for now.