FXstreet.com (Barcelona) - GBP/USD has risen around 180 pips from 1.4586 to break MA200 at 1.4733 and reach 1.4765, fresh intra-day high, on the last two hours. The pair is gaining 0.55% so far today from 1.4675 opening price to be traded around 1.4750/60.
According to Valeria Bednarik, Cable is changing its bias: Pair changes bias in the last hour, and turn bullish with both Momentum and CCI giving signs of continuation, also supported by price break above 20 SMA and 200 EMA. Above yesterday's high at 1.4740, the pair will confirm a longer term continuation in bigger charts. Since last update, pair managed to break above the descendant daily trend line, and continued as far as 1.4745 before showing signs of exhaustion and begin a downside correction. Price is holding above the 200 EMA, while the 20 SMA clearly bullish should offer some support around 1.4610. Bigger time frame show clear bearish divergences, suggesting a deeper correction in the pair for the next hours.
Bednarik provides us with her levels: Support levels: 1.4660 1.6610 1.4580. Resistance levels: 1.4740 1.4785 1.4835.
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