Updated the:
06/11/2012
GBP/USD Technical Analysis comments :
Sentiment :
sentiment
1.54
sentiment
1.54
sentiment
The pair GBP/USD made a pullback last friday on the support at 1.54 and also on the upper band of its former bearish channel (purple lines) and has opened the week on a strong bullish gap (which is not filled in), pushing back the price above 1.5512 (level 23.60% of fibonacci retracements).
All indicators are bullish.
We continue to advise long positions as far as 1.54 is support.
The breakout of 1.56 will give a new buy signal and open the way towards 1.5663 (level 38.20%).
In case of return below 1.54, a sell signal will be given.
Complete sheet of the pair GBP/USD - Previous GBP/USD Analysis

GBP/USD

Chart of the pair GBP/USD - Timeframe 4H - Zoom in :

Chart of the pair GBP/USD - Timeframe 4H - Zoom out:

GBP/USD

GBP/USD Live Chart - Timeframe : 4h

Chart