GBP/USD On The Upside

Technical Reports

Pair’s trading stays on the upside for 1.4243 resistance. Breach will align a test of 1.4345 maximum. Following pivot points include: (S1) 1.4011; (P) 1.4058; (R1) 1.4134.

Under 1.4075 minor support, trading will turn up in the neutral position. If 1.3964 support is present, the prognosis remains mildly bullish.

Medium term forecast stays bullish if the resistance turned support of 1.3651 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 1.3651 will indicate a medium term reversal and head towards 1.3038 support.