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GBP/USD : Pursuit of the bullish rally

Sentiment :

--- Follow up analysis ---
A new bullish wave occured yesterday on the pair GPB/USD who broke the resistance at 1.61 (new buy signal) and is currently testing the next resistance at 1.62. In h1, a new bullish slant appeared and seems to lead the movement.

In h4, the exif from the top of the bullish channel (blue lines) shows the strengh of the movement. We continue to advise long positions as far as 1.61 is support. A pullback on 1.6150 stay possible if the resistance at 1.62 is not broken shortly. However, the breakout of 1.62 will give a new buy signal and will open the way towards 1.63.

In case of return below 1.61, we will be neutral between this level and 1.60 (level of the lower band of the channel in h4).

Analysis published by Bruno, the 09/14/2012 at 09h30 GMT+2

Full analysis

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