|GBP/USD : Pursuit of the bullish rally|
--- Follow up analysis ---
The bullish rally continues on the pair GBP/USD who broke the resistance at 1.60, giving us a new buy signal. Currently, the price is testing the next resistance at 1.61. In h4, the pair is also going to test the upper band of its bullish channel (blue lines).
We continue to advise long positions as far as 1.5973 (last low) is support. The breakout of 1.61 will give a new buy signal and should allow the price to pursuit its bullish rally towards the resistance at 1.62. Inh1, a bullish slant (purple line) could act as support. As far as 1.61 is resistance, a pullback stay possible towards 1.6025.
In case of return below 1.5973, we will be neutral between this level and 1.59.
Analysis published by Bruno, the 09/12/2012 at 09h00 GMT+2
|Complete sheet of the pair GBP/USD - Previous GBP/USD Analysis|
|Chart of the pair GBP/USD - Timeframe 4H|
|Chart of the pair GBP/USD - Timeframe 1H|
|GBP/USD Live Chart - Timeframe : 4h|