The GBPUSD was bullish in the yesterday’s session, because of the good readings in some economic calendar’s events that have “positive” impact in the cable. ¿Will continue the bullish trend for today?
The GBPUSD found strong resistance at 1.5242, which is currently, forming a posible lower high pattern, to continue its bullish trend, which is supported by the 200 day moving average, which is below the current price of GBPUSD. If the GBPUSD do a breakout at 1.5242, the cable continue its bullish path to the next resistance at 1.5307.
There is a possibility that the cable can fall below the SMA 200, next to the supports at 1.5150 and 1.5080, because the MACD indicator is showing an extreme overbought in the GBPUSD.
Be cautious today at 13:30 GMT because of the U.S. Non-Farm Employment Change (NFP), which has a previous reading of at 236K and 198K to forecast. If the current reading is less than forecast, the GBPUSD may have upward movements or, if the current reading is high than forecast, the cable may have bearish movements.
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