GBP/USD’s Rally Extension

Technical Reports

Pair’s correction from 1.3549 is unfolding. Trading stays neutral. Further lift is projected if 1.3220 support stands. Following pivot points include: (S1) 1.3350; (P) 1.3370; (R1) 1.3392.

Breach of 1.3549 will head towards the maximum of 1.3651. Breach will extend medium term rally from 1.1946. Sustained 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.