GBP/USD 1D Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/USD stabilised near 1.50 in the first half of 2013, following a strong sell-off from 1.63. Ever since the currency pair has been in an up-trend and has covered 21 figures during the last four quarters.
For now the overall outlook towards the Sterling is positive, since the boundaries of the channel up are intact. But the technical studies are becoming less bullish than they were weeks ago, and it is already the second time (the first time was in May) the price fails to reach the upper trend-line of the pattern, meaning the support at 1.6974 might be in danger. But if this level manages to hold off the bears, we will be expecting the Cable to try and test one of the key resistances at 1.74.
© Dukascopy Bank SA
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