GBPUSD OVERALL TECHNICAL ANALYSIS

Hello Price Action Traders.

GBP/USD

The GBP/USD broke the 1.70 level reaching a 4-year high because of the strengthening of the Pound and the broad USD selling (due to yesterday’s dovish Fed comments). The Cable is also trading above its 200 SMA since August 2013 and there isn’t a reversal signal yet. So, longs are still preferred. Ideally, a pullback on the support could be an entry point for a buy.

 

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Luigi, professional trader member of Hereforex.com

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