Technical Analysis

GBPUSD: Bullish, Biased To The Upside On Trend Resumption

Typography

GBPUSD: The pair now faces risk of a trend resumption after reversing its Friday losses on during Monday trading session. Support lies at the 1.3500 level where a break will turn attention to the 1.3450 level. Further down, support lies at the 1.3400 level. Below here will set the stage for more weakness towards the 1.3350 level. Conversely, resistance stands at the 1.3550 levels with a turn above here allowing more strength to build up towards the 1.3600 level. Further out, resistance resides at the 1.3650 level followed by the 1.3700 level. On the whole, GBPUSD continues to face upside pressure short term.

Author: FXTechstrategy Website: http://www.fxtechstrategy.com/
FXTechstrategy
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