GBPUSD: Threatening Further Upside Short Term

GBPUSD: Threatening Further Upside Short Term

29 April 2016, 07:17
Roberto Jacobs
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GBPUSD: Threatening Further Upside Short Term

GBPUSD: Having GBPUSD taken back its losses to close higher on Tuesday, further bullishness is envisaged. On the downside, support lies at the 1.4550 level where a break will turn attention to the 1.4500 level. Further down, support lies at the 1.4450 level. Below here will set the stage for more weakness towards the 1.4400 level. Conversely, resistance stands at the 1.4650 levels with a turn above here allowing more strength to build up towards the 1.4700 level. Further out, resistance resides at the 1.4750 level followed by the 1.4800 level. On the whole, GBPUSD remains biased to the upside but with caution.

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