GBP/USD’s Short Term Reversal

Technical Reports

Pair’s trading is still neutral. Further lift is expected. Over 1.3612, GBP/USD will align the key resistance of 1.3651. Following pivot points include: (S1) 1.3471; (P) 1.3516; (R1) 1.3551.

Breach will extend medium term surge from 1.1946 and head towards 1.3835 key resistance. Further drop as well as breach of 1.3481 will indicate short term reversal and 1.3300 support will be aligned.

Breach of long term trend line resistance from 1.7190 confirms long term reversal. The cable is bounded under the key resistance of 1.3835. Breach of 1.3038 support will suggest ending of recoil from 1.1946 and prognosis will become bearish. Firm breach of 1.3835 should align 38.2% retracement of 2.1161 to 1.1946 at 1.5466.