GBP/USD Break stubborn résistance
GBP/USD finally broke strong resistance at 1.3700, now trading at 32 month high.
Price is currently trading on new resistance at 1.3737 as bulls look to capture 1.3800.
Optimism around the US stimulus package has seen broad Dollar weakness.
The positive sentiment remains, even with the high Covid-19 death rate in the UK, as the vaccine rollout continues.
If price manages to breach resistance level 2 this will coincide with the multi month ascending trendline.
Price is bordering overbought conditions which may cap gains for now, I am looking for a pullback before possible further gains.
If sellers manage to retake control support at 1.3614 will be the first target.
Support: 1.3614 - 1.3556
Resistance: 1.3737 - 1.3802
Price is currently trading on new resistance at 1.3737 as bulls look to capture 1.3800.
Optimism around the US stimulus package has seen broad Dollar weakness.
The positive sentiment remains, even with the high Covid-19 death rate in the UK, as the vaccine rollout continues.
If price manages to breach resistance level 2 this will coincide with the multi month ascending trendline.
Price is bordering overbought conditions which may cap gains for now, I am looking for a pullback before possible further gains.
If sellers manage to retake control support at 1.3614 will be the first target.
Support: 1.3614 - 1.3556
Resistance: 1.3737 - 1.3802
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