Forex News from New Forex: Technical analysis of GBP/USD
After yesterday's pullback the pair returns to the ascending trend with the immediate level of support at 1.5580 and resistance at 1.5680.
Trades have a mild bullish tone today. In the short run it aims for 1.5674, then 1.5788 (a high of June 29). In case of its successful breach, it would target 1.5929 (a high of June 18).
Basing on data of MACD and the Stochastic Oscillator there might be a consolidation of the market within the above mentioned levels of support and resistance.
Newforex Analyst
Luigi Campo
After yesterday's pullback the pair returns to the ascending trend with the immediate level of support at 1.5580 and resistance at 1.5680.
Trades have a mild bullish tone today. In the short run it aims for 1.5674, then 1.5788 (a high of June 29). In case of its successful breach, it would target 1.5929 (a high of June 18).
Basing on data of MACD and the Stochastic Oscillator there might be a consolidation of the market within the above mentioned levels of support and resistance.
Newforex Analyst
Luigi Campo