GBPUSD 1.5647 – bullish – Bullish momentum suggests scope for higher
GBPUSD rallied strongly from the 1.5329 minor double bottom (September 15/16, 2015 lows) to 1.5659 (September 18, 2015 high), retracing near 76.4% of the 1.5818/1.5163 fall. Bullish indicators suggest scope remains for further upside towards 1.5719 (August 28, 2015 high) ahead of 1.5818 (August 25, 2015 high). The 1.5557 area (September 18, 2015 low) should support consolidation.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
GBPUSD rallied strongly from the 1.5329 minor double bottom (September 15/16, 2015 lows) to 1.5659 (September 18, 2015 high), retracing near 76.4% of the 1.5818/1.5163 fall. Bullish indicators suggest scope remains for further upside towards 1.5719 (August 28, 2015 high) ahead of 1.5818 (August 25, 2015 high). The 1.5557 area (September 18, 2015 low) should support consolidation.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
