GBPUSD: Recovery Tone Remains Intact
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
GBPUSD: With a follow through higher on its corrective recovery seen on Monday, further upside offensive cannot be ruled out. Resistance resides at the 1.5400 level where a violation will call for a run at the 1.5457 level. Further out, the 1.5500 level comes in as the next upside where a break will aim at the 1.5550 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk is for GBP to reverse its corrective recovery and return to the 1.5007 level. Further down, support comes in at the 1.4950 level where a break will target the 1.4900 level and then the 1.4850 level. On the whole, GBP continues to retain its broader downside bias despite its recovery.