According to Slobodan Drvenica, an analyst at Windsor Brokers Ltd., “The GBP/USD continues to trend higher after corrective pullback off a previous high at 1.6033, contained by its ascending 20-day EMA. Positive sentiment keeps bulls fully in play, despite overbought readings of the near-term studies. Initial support zone at 1.6033/1.6000 is expected to hold any declines.”
Drvenica identifies the pair’s next measures of resistance at 1.6100, then 1.6150, and finally 1.6181. On the downside, the next short-term resistances are located at the levels of 1.6063, then 1.6033, and eventually 1.6000.