Ripping though the psychologically significant 2.0600 level, technical analysts forecast cable to see $2.0670-$2.0685 before any correction as they contend the pair is well supported at $2.0570.
[U][I]Technical:[/I][/U] [B]GBP/USD[/B]
[B]Resistance: 2.0610
Support: 2.0400[/B]
Analysis of emerging candle formations uncovers the “Three advancing white solders” injecting further bullish sentiment. However, RSI readings continue to convey overbought levels and a breach of the top Bollinger band could result in a retracement to the 23.6% FIB level of $2.042 before higher levels are attained.
