GBPUSD: With GBP closing higher on Wednesday and following through higher during early morning trading today, further upside is likely.
This development exposes the 1.5600 level with a turn above here creating scope for further bullish offensive towards the 1.5676 level. Further out, resistance resides at the 1.5750 level.
Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.5434 level where a reversal of roles as support is likely to occur and turn the pair higher.
Further down, support stands at the 1.5400 level where a violation will aim at the 1.5350 level. On the whole, GBP looks to extend its upside offensive.
Guest post by FX Tech Strategy
Share
