GBPUSD Holds Above Key Supports, Eyes Further Upside
GBPUSD: Having held off the 1.4633/00 zone, we look for GBPUSD to strengthen further above that level in the days ahead. On the downside, support lies at the 1.4550 level where a break if seen will aim at the 1.4500 level. A break of here will turn attention to the 1.4400 level. Further down, support comes in at the 1.4350 level. On the upside, resistance resides at the 1.5000 level with a break aiming at the 1.5050 level. A violation will aim at the 1.5100 level and possibly higher towards the 1.5150 level. Its daily RSI is slowly turning higher supporting further upside pressure. On the whole, GBP continues to retain its recovery bias off its key support level.
