The Varengold Bank Research Team sees the probability of the GBP/USD trend to turn bullish towards 1.5484 on a break above 1.5265 levels.
Key Quotes
“Technically the cable is immerse in a clear downtrend no matters the time frame used but, in this occasion, the peer is already very close to an important long term support around 1.4800. This mentioned support [..] considering the long, deep downtrend, a quite important bounce around that level could be possible so is good to keep it in mind.”
“Over the current price, we could consider a change in the main trend-line to bullish if the peer is able to break the 1.5265 resistance, identifying the next relevant level around the 1.5484.”
Key Quotes
“Technically the cable is immerse in a clear downtrend no matters the time frame used but, in this occasion, the peer is already very close to an important long term support around 1.4800. This mentioned support [..] considering the long, deep downtrend, a quite important bounce around that level could be possible so is good to keep it in mind.”
“Over the current price, we could consider a change in the main trend-line to bullish if the peer is able to break the 1.5265 resistance, identifying the next relevant level around the 1.5484.”
