GBP/USD – Odds of bullish move to 23.6% Fibo intact

29 thg 6, 2016

Resistance – 1.3419, 1.35, 1.3567

Support – 1.3294, 1.3226, 1.3119

• Pair’s break above hourly 50-MA following a bullish break from falling channel and bullish price RSI divergence indicates the spot could be heading higher to 1.3567 (23.6% of 1.5019-1.3119).
  

• The bird consolidated just above hourly 50-MA in Asia indicating a base building before further upside opens up.
  

• On the other hand, failure to extend gains above hourly 50-MA followed by a break below hourly chart support of 1.3226 could yield re-test of 1.3119.