GBP/USD Intraday Technical analysis
The spot rate is currently testing the lower limit of its medium term bullish channel in 1.5800 suggesting a rebound. However a break of these levels would free a large potential and entail a new trend.
RSI provide buyers signals but approach to the overbuy zone suggesting a decline. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5800 with a 1st objective of 1.5860, then 1.5890. A break in 1.5780 would invalidate this scenario.
The material has been provided by Instaforex Company – instaforex.com
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