GBP/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/USD is in a good position to advance further, but the rally that was started at 1.5330 is likely to resume only tomorrow. Overall we are bullish on the Pound, but the currency pair must first complete the downward correction, and this implies a decline to 1.5550. The negative short-term bias is also indicated by the technical studies. Once the support trend-line is confirmed, the target will be the Jun 29 high, while in the longer-term the price could be aiming for 1.5930, namely for the June high. However, the SWFX traders are currently divided regarding the Sterling's prospects. Right now a half of them is bullish and the other half is bearish.
© Dukascopy Bank SA
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