GBPUSD: A Little Bit Bullish With Caution…
As long as 1.2459/1.2520 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.2600/1.2690 levels. A halt is likely, it may turn lower from here. Anyway; above 1.2690 would challenge the 1.2795 level, the next resistance comes in the 1.2870 level.
The GBPUSD will have to break and hold above 1.2690 levels to prevent a return to the downside…
On the downside, a failure to break and hold above the 1.2690 levels could mean a return to the 1.2520/1.2459 levels. A halt is likely, it may consolidate around here before the next move. However; a cut-through 1.2459 will reverse threats to the downside to 1.2397 level ahead of 1.2255 level.
In conclusion: the GBPUSD sees upside threats above 1.2459/1.2520 levels…
Support: 1.2520, 1.2459, 1.2397, 1.2255, 1.2180
Resistance: 1.2600, 1.2690, 1.2795, 1.2870, 1.2960
Key data/events which may affect GBPUSD today:
- BoE Gov Bailey Speaks at 15:30 GMT.
