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26 Feb 2015
GBPUSD: Bullish Momentum continues - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies, notes that GBP/USD is now in a key resistance zone up towards 1.5606.
Key Quotes
"Continuing its bull run from our buy setup back at 1.5330/45, the GBPUSD (now almost 200 pips higher) has cleared the first hurdle and resistance at 1.5500. The pair is now in a key resistance zone up towards 1.5606."
"Any impulsive selling here and break back below 1.5500 would mean 1.5450 and 1.5345 would be under attack. However a break and close above here on a daily basis means the MT structure is now bullish as well."
Key Quotes
"Continuing its bull run from our buy setup back at 1.5330/45, the GBPUSD (now almost 200 pips higher) has cleared the first hurdle and resistance at 1.5500. The pair is now in a key resistance zone up towards 1.5606."
"Any impulsive selling here and break back below 1.5500 would mean 1.5450 and 1.5345 would be under attack. However a break and close above here on a daily basis means the MT structure is now bullish as well."