GBPUSD currency pair recently reversed up with the weekly candlesticks reversal pattern Bullish Engulfing from the support zone located between the long-term support level 1.22650(which reversed the price in the middle of 2020) and the lower weekly Bollinger Band. The upward reversal from this support area started the active weekly correction (ii). Given the rising sterling bullishness seen today – GBPUSD currency pair can be expected to
rise further toward the next resistance level 1.26710 (former multi-month support from 2020).