GBP/USD: short term bullish above 1.5130

The GBP/USD continues to be capped by the 1.5130 Fibonacci level, although a general dollar negative sentiment maintains the pair above 1.5100 and with a positive tone this Friday, as price stands above its 20 SMA, while indicators head higher still below their midlines. The upward corrective movement can extend once price firms up above mentioned resistance, requiring at least a 1 hour candle opening above it to confirm more gains, towards 1.5160/80 price zone.

The intraday bullish tone will persists as long as price stands above 1.5050, immediate support as once below this last there’s scope for a test of 1.4990, next Fibonacci support.

View Live Chart for GBP/USD

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