GBPUSD targets 1.6259 , Support 1.5853 !


The GBPUSD maintained a strong bullish momentum last week , the clear break above 1.5991/1.6068 levels ;has printed a new support at the 1.5853 levels . This development leaves the pair targeting the 1.6259 levels where a breach is likely ,If seen , It will target the 1.6380 ahead of 1.6440 levels . On the downside , support is at 1.6068 ahead of 1.5991 , main support comes at the 1.5853 levels, losing 1.5853 on a daily basis would reverse risks to the downside towards 1.5700 levels ahead of 1.5500 levels. Overall ; the GBPUSD will remain biased to the upside with risk towards 1.6259 and beyond as long as 1.5853 holds on a daily closing basis.

Note that the weekly support level 1.5893 was rejected with bullish divergence on the daily chart and long bullish candle on the weekly chart , so the pair is bullish, strong and sudden rise is suggested.