Monday, January 23, 2017

Good rally on the Pound

The GBP/USD has had very volatile sessions during the past two days, but the rally seems to be in place after it broke above the 55 day EMA, around the 1.2372 level. It seems like it will reach the 1.2600 level, which could act as resistance. For now the pair stays above the 1.2500 level. Above the 1.2600 level, the pair could have the road clear all the way to the 1.2800 zone. In case the pair comes back down and breaks below the 55 day EMA, then the 1.2300 level could act as support, followed by the 1.2200 level, the 1.2100 level and finally the most important support zone is at the 1.2000 level.

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