GBPUSD Reverses Gains, Eyes More Strength
Forex Bits

GBPUSD Reverses Gains, Eyes More Strength

FX Tech Strategy
Updated:

GBPUSD: With the pair reversing its Friday losses to close higher on Monday, further recovery is now envisaged in the days ahead. It must trade and hold above range to create scope for more strength. Support lies at the 1.4400 level where a break will turn attention to the 1.4350 level.

Further down, support lies at the 1.4300 level. Below here will set the stage for more weakness towards the 1.4250 level. Its daily RSI is bullish and pointing higher suggesting further strength. Resistance stands at the 1.4450 levels with a turn above here allowing more strength to build up towards the 1.4500 level. Further out, resistance resides at the 1.4550 level followed by the 1.4600 level. On the whole, GBPUSD faces upside pressure on further price strength.

gbpusd

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FX Tech Strategy

FX Tech Strategy

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