GBPUSD: Bullish, Targeting The 1.5600 Level.

GBPUSD: With continued upside offensive seen, further gain is likely towards the 1.5600. Above here will target the 1.5650 level and then the 1.5700 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, on any pullback the pair could retest the 1.5410 level. We expect this level to provide a strong support and turn it higher. Further down, support comes in at return to the downside, the danger is for it to retarget the 1.4830 level. Below here if seen will resume its broader medium term downtrend towards the 1.4800 level. A violation will aim at the 1.4700 level. On the whole, GBP continues to retain its upside offensive.

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Comment by Francesc Riverola on April 29, 2013 at 9:05pm
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