The return above 110.40 has neutralized the bearish outlook and the bias is positive, for a test of 111.20 crucial level. I favor a break through the latter to initiate a rise towards 112.10 peak.

resistance
intraday	intraweek
111.20	114.50
112.10	114.50

support
intraday	intraweek
110.40	110.10
110.10	109.30

resistance

intraday

intraweek

111.20

114.50

112.10

114.50

support

intraday

intraweek

110.40

110.10

109.30

GBP/USD Current level - 1.2790

The rebound after 1.2730 is currently set for a test of 1.2850 and if successful, for a spike to 1.2920 area. The general outlook on the senior frames remains bearish, for a slide towards 1.2570.

resistance
intraday	intraweek
1.2850	1.2970
1.2920	1.3210

support
intraday	intraweek
1.2730	1.2570
1.2630	1.2570

resistance

intraday

intraweek

1.2850

1.2970

1.2920

1.3210

support

intraday

intraweek

1.2730

1.2570

1.2630

1.2570

Author

Stoyan Mihaylov

DeltaStock.com

Stoyan Mihaylov, 42 years old, a Financial Analyst at Deltastock Inc, has an sixteen-year background as a senior FX Dealer, trading spot and outright forwards.

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