GbpUsd- to break above resistance?
Updated
Since the recent low of just under 1.37, GbpUsd traded to the upside putting in a series of higher lows on our chart.
The long term trend is clearly up and I believe that a break above recent short term resistance will follow.
Considering we are speaking about Gbp, a spike under 1.38 is very probable and this can be a good opportunity for bulls to enter the market.
1.4 is a reasonable target and, on the other hand, a daily close under 1.37 would negate this scenario
The long term trend is clearly up and I believe that a break above recent short term resistance will follow.
Considering we are speaking about Gbp, a spike under 1.38 is very probable and this can be a good opportunity for bulls to enter the market.
1.4 is a reasonable target and, on the other hand, a daily close under 1.37 would negate this scenario
Note
Gbpusd is trading above resistance.A daily close above this level would confirm my bullish outlook and expose 1.4
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