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GBPUSD finished the week strong with the help of the UK elections. The outcome of the event triggered quite the rally over the last 24 hours of the trading week.
With a gain of 190 pips during Friday’s session the pair looks ready to tackle the next resistance level at 1.5550. The 1.5350 level comes in as support should the bears decide to test bullish conviction early in the week.
Of a broader significance is the fact that the pair was able to maintain bullish momentum last week after breaking trend line resistance on April 24th. Higher prices are likely as long as GBPUSD can remain above the last swing low at 1.5080.
Summary: Watch for bullish price action on a retest of 1.5350 as new support. Key resistance comes in at 1.5550. A break and close above 1.5550 would expose the next key resistance level at 1.5825.
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source
thank you all of you
GBPUSD finished the week strong with the help of the UK elections. The outcome of the event triggered quite the rally over the last 24 hours of the trading week.
With a gain of 190 pips during Friday’s session the pair looks ready to tackle the next resistance level at 1.5550. The 1.5350 level comes in as support should the bears decide to test bullish conviction early in the week.
Of a broader significance is the fact that the pair was able to maintain bullish momentum last week after breaking trend line resistance on April 24th. Higher prices are likely as long as GBPUSD can remain above the last swing low at 1.5080.
Summary: Watch for bullish price action on a retest of 1.5350 as new support. Key resistance comes in at 1.5550. A break and close above 1.5550 would expose the next key resistance level at 1.5825.
==============
source
thank you all of you
