GBPUSD 1.5458 – bullish – Bullish reversal suggests scope for higher
GBPUSD reversed sharply higher from the 1.5199 low (October 13, 2015) Wednesday to retrace 61.8% of the 1.5658/1.5107 fall. Bullish momentum suggests scope remains for further upside towards 1.5568 (September 21, 2015 high) ahead of 1.5658 (September 18, 2015). The 1.5387 area (October 13, 2015 high) provides immediate support. Below lies 1.5245/1.5199.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
GBPUSD reversed sharply higher from the 1.5199 low (October 13, 2015) Wednesday to retrace 61.8% of the 1.5658/1.5107 fall. Bullish momentum suggests scope remains for further upside towards 1.5568 (September 21, 2015 high) ahead of 1.5658 (September 18, 2015). The 1.5387 area (October 13, 2015 high) provides immediate support. Below lies 1.5245/1.5199.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
