GBP/USD Continues To Face Recovery Risk

GBP/USD with the pair rejecting lower prices to close higher the past week, more strength is expected in the new week. Support is seen at the 1.3500 area with a break turning the focus to the 1.3450 level. Further down, support lies at the 1.3400 level. A cut through here will turn focus to the 1.3350 level and then the 1.3300 level.

On the upside, resistance is seen at the 1.3600 with a break above that level allowing for more gain towards the 1.3650 level. Further out, resistance stands at the 1.3700 level followed by the 1.3750 level. Its daily RSI is bullish and pointing higher suggesting more gain. On the whole, GBP/USD faces further upside threat medium term.

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GBPUSD Continues To Face Recovery Risk

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