GBP/USD’s Correction

Technical Reports

Pair’s correction from 1.3549 is progressing. Trading character is neutral. Further lift is likely if 1.3220 support is present. Breach of 1.3549 will align the maximum of 1.3651. Following pivot points include: (S1) 1.3347; (P) 1.3367; (R1) 1.3403.

Breach should enlarge the medium term rally from 1.1946. Strong breach of 1.3220 will make prognosis bearish till the key support of 1.3038.

Corrective recoil from minimum 1.1946 is bounded under the key support turned resistance of 1.3835. Firm breach of 1.3835 should align 38.2% retracement of 2.1161 to 1.1946 at 1.5466.