Cable price action has consolidated above the 1.9800 level employing the lower two-deviation Bollinger band as a short-term support. Technical analysts contend that when price action clusters around a psychological level that a major break-out is imminent.
[B][U]Technical: GBP/USD[/U][/B]
[B]Resistance: 2.0000
Support: 1.9750[/B]
Look for bullish sentiment to continue with a possible reversal to test the 2.000 level as fundamentals remain supportive of cable growth.
