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| GBP/USD |
SUMMARY:
The primary trend of
GBP/USD
is sideways on charts and from past few trading sessions prices are
not sustaining at lower levels & consolidating near the important
level of 1.4870. In its 30 minutes chart, prices are consolidating
with strong positive bias to give break out at upside. It is also
taking support of 30 and 200 DMA. If the pair breaks the resistance
level of 1.4880 at upside then we can expect it to test the level of
1.4935/1.4970.
INDICATORS:-
RSI is sustaining in buying territory supporting the
upcoming bullish trend in the pair.
MACD line is also sustaining in buying territory
indicating the bullish trend in the pair.
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| Technical Chart |
STRATEGY:-
GBP/USD
has bounced back from the lower level & looking bullish on charts
for next few session. One can go for buy on dips strategy for this
pair for intra day to mid term positions.
