GBPUSD: Bullish, Eyes Further Upside

11 June 2015, 02:47
FXTechstrategy Team
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GBPUSD: Having followed through higher on Wednesday, further bullishness is envisaged. This development leaves the pair targeting further upside towards the 1.5600 level where a break will aim at the 1.5650 level followed by the 1.5700 level. A break will target the 1.5750 level where a violation will aim at the 1.5550 level and possibly higher towards the 1.5600 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, immediate support lies at the 1.5450 level where a break if seen will aim at the 1.5400 level. A break of here will turn attention to the 1.5350 level. Further down, support lies at the 1.5300 level. On the whole, GBP continues to retain its upside bias on correction.

 

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