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GBP/USD- Bullish Pause but Momentum Strong

By - Nov 02, 2015, 6:09 AM CST

GBP/USD bullish rally has paused but watch Initial resistance can be found at 1.5529 (18/09/2015 high). The short-term technical structure suggests continued bullish momentum. An initial support lies at 1.5202 (06/06/2014 high).

In the longer term, the technical structure looks like a recovery as long as support given at 1.5089 stands. A full retracement of the 2013-2014 rise is expected.

Daily Technical Report