Currency is sandwiched between the moving averages with periods of 89, 55 and 34 (resistance levels 1.6125, 1.6150/60 and 1.6175) on the one hand, and the average with a period of 144 (the support level 1.6075) on the other.MACD histogram is located in the negative zone and below its signal line, but gradually began to rise and thus indicates a gradual resumption of the bullish sentiment.
Stochastic Oscillator is in the neutral zone and generates a signal to buy GBP / USD, since the% K line rises above the% D.
Because, trust only one clear signal is very risky, then as a confirmation that the forex market in this currency pair may be amplified in bullish mood, we need to wait for the breakdown of the resistance level of 1.6125, which will open the path to levels of 1.6150/60 and 1.6190.
Resistance levels: 1.6125, 1.6150/60, 1.6190, 1.6240/50, 1.6275
Current Price: 1.6114
Support levels: 1.6100, 1.6075, 1.6050, 1.6030, 1.6000, 1.5980
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