The GBP/USD has been presenting a sustained advance since early August when in bottomed around 1.5490, extending its advance today to 1.5815 early Europe. Despite UK fundamental data has been beyond disappointment, Pound seems to be preferred over the Euro and the greenback, these days. The pair has found support in the 1.5770 since the day started not a minor data: as long as above the level and despite the slow movements, the buyers will remain control.

Technically speaking, the 4 hours chart shows a strong upward momentum that favors a continuation rally with a key resistance level at 1.5850, probable target in case of a break of today’s high. Once above, stronger gains towards the 1.60 area over the upcoming sessions should not be discarded.

With immediate support at 1.5770, pair needs to lose the 1.5730 area, to actually discourage buyers and extend its slide towards the 1.5690 price zone.


View Live Chart for GBP/USD

g