GBP/USD’s Bullish Prognosis
Pair’s trading character is neutral. The 1.3764/4144 diapason favors. Breach of 1.4144 will prolong the lift from 1.3764 and align a test on 1.4345 resistance. Following pivot points include: (S1) 1.3845; (P) 1.3921; (R1) 1.3984.
Breach should extend deeper uptrend to reach 1.5056 long term trend line resistance. Under 1.3764, the correction from 1.4345 will align resistance turned support of 1.3651.
Medium term forecast stays bullish if 1.3038 support stands. Increase from 1.1946 is a correction for the long term downtrend from the maximum of 2.1161. Another rally should align 38.2% retracement of 2.1161 to 1.1946 at 1.5466. The pair can’t surpass 55 month EMA. Breach of 1.3038 support will indicate ending of the lift from 1.1946, which will make prognosis bearish till repeat test of this level.