GBPUSD is still being guided higher by a 1-month old uptrend channel; and after spending most of yesterday consolidating lower, we are now expecting the newly refreshed bulls to sweep us higher once again.

First resistance from here is expected to come into play at 1.5888 (18 Nov high), with further levels at 1.5932 (15 Nov high), 1.6000 psychological level, 1.6093 (11-14 Nov highs), 1.6130 (8 Nov high), and 1.6166 (31 Oct high).

First support now creeps up to 1.5786 (yesterday’s low), then 1.5707 (1 Feb low), 1.5642 (27 Jan low), 1.5533 (24 Jan low), 1.5517 (23 Jan low), 1.5451 (20 Jan low), and 1.5416 (19 Jan low).

MT4 - GBPUSD is still being guided higher by a 1-month old uptrend channel; and after spending most of yesterday consolidating lower, we are now expecting the newly refreshed bulls to sweep us higher once again.

First resistance from here is expected to come into play at 1.5888 (18 Nov high), with further levels at 1.5932 (15 Nov high), 1.6000 psychological level, 1.6093 (11-14 Nov highs), 1.6130 (8 Nov high), and 1.6166 (31 Oct high).

First support now creeps up to 1.5786 (yesterday’s low), then 1.5707 (1 Feb low), 1.5642 (27 Jan low), 1.5533 (24 Jan low), 1.5517 (23 Jan low), 1.5451 (20 Jan low), and 1.5416 (19 Jan low).

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