GBPUSD Bullish bias above 1.6398 !

Pound-Dollar-7676-ert

The GBPUSD maintained a bullish momentum yesterday, topped at the 1.6485 and bottomed at the 1.6398 levels, now the pressure will be on the key resistance 1.6485.

The GBPUSD will have to hold above the 1.6485 levels on a daily closing basis to push the market for further upside gains, If seen, It will challenge/take out 1.6507 levels, If seen, It will turn the focus on the 1.6602/1.6618 levels, further out will open 1.6745 levels.

Alternatively, a failure to hold above the 1.6485 levels could mean a return to the 1.6398 levels, a halt is suggested, but If 1.6398 fails, next support comes at the 1.6346 levels, a further breach will turn the focus on the 1.6260 levels.

Overall, GBPUSD is likely to retain to its medium-term upside bias as long as  support 1.6398 holds on a daily basis, below this

the level would reverse risks to the downside.

GBPUSD Bullish bias above 1_6398 !

MARKET DATA

UPCOMING ECONOMIC EVENTS

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