GBP/USD Technical Analysis: Upswing Signaled at Trend Line
GBP/USD Technical Analysis – Prices put in a Bullish Engulfing candlestick pattern above support at a rising trend line set from mid-March, hinting a move higher is ahead. Near-term resistance is at 1.5304, the 23.6% Fibonacci expansion. A break above that targets the 38.2% level at 1.5412. Trend line support is now at 1.5132.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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