GBP/USD’s Medium Term Lift

Technical Reports

Pair’s trading stays on the upside towards 1.3651 resistance. Breach will extend medium term lift from 1.1946 and head towards 1.3835 key resistance. Following pivot points include: (S1) 1.3527; (P) 1.3564; (R1) 1.3629.

Under 1.3518 minor support, trading will turn up in the neutral position. If 1.3300 support holds, the forecast will remain bullish.

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.