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GBPUSD’s rise from 1.4948 extends to 1.5296

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 14, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD’s rise from 1.4948 extends to as high as 1.5296 level. Further rally is still in favor later today and target would be at 1.5400 area. Initial support is at 1.5180, as long as this level holds, uptrend from 1.4948 will continue. Key support is at 1.5100, only fall below this level could indicate that lengthier consolidation of uptrend is underway, then sideways movement between 1.4870 and 1.5300 could be seen.

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