GBPUSD: Remains Bullish, Eyes Further Upside Pressure

Mohammed Isah FXTechstrategy

GBPUSD: The pair continues to face upside pressure following its higher close on Tuesday. Support lies at the 1.2750 level where a break will turn attention to the 1.2700 level. Further down, support lies at the 1.2650 level. Below here will set the stage for more weakness towards the 1.2600 level. Conversely, resistance stands at the 1.2850 levels with a turn above here allowing more strength to build up towards the 1.2900 level. Further out, resistance resides at the 1.2950 level followed by the 1.3000 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the whole, GBPUSD continues to face upside threats.

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.3026
2. R2 1.2944
3. R1 1.2880
PP 1.2798
1. S1 1.2735
2. S2 1.2653
3. S3 1.2589

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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