GBP/USD started a fresh increase above the 1.1550 zone. EUR/GBP is rising and might climb further higher above the 0.8700 resistance.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh recovery wave above the 1.1550 resistance zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.1585 on the hourly chart of GBP/USD.
· EUR/GBP climbed higher above the 0.8620 and 0.8650 resistance levels.
· There is a major bullish trend line forming with support near 0.8665 on the hourly chart.
GBP/USD Technical Analysis
The British Pound found support near the 1.1420 zone against the US Dollar. The GBP/USD pair started a recovery wave and was able to clear the 1.1500 resistance zone.
There was a decent increase above the 1.1550 level and the 50 hourly simple moving average. The pair even climbed above the 1.1600 level. A high was formed near 1.1641 on FXOpen and the pair is now correcting gains......More info: blog FXOpen
