Monday, April 2, 2018

The GBP/USD tries to go back up

The GBP/USD has been slowly getting higher from the 1.4000 zone, but it has not been able to break above the 1.4100 level. Regardless of the bearish correction during last week, the GBP/USD keeps a bullish trend in the short term and its 55 day EMA has been holding the price to the upside. But on the other hand, the 1.4041 level and the 1.4300 level have been acting as good resistances due to the fact that we can find the 200 week EMA at the 1.4041 level and the 55 month EMA at the 1.4300 level. A breakout above the 1.4100 level could take the GBP/USD to the 1.4200 or the 1.4300 level. To the downside, the 55 day EMA may act as support, but also the 1.3900 and the 1.3700 levels could act as support. In reality, the most relevant support is at the 1.3600 level where we can also find the 200 day EMA.

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