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24 Feb 2015
GBP/USD bullish risks – MarketChartist
FXStreet (Barcelona) - Steve Miley of MarketChartist, gives the technical outlook for GBP/USD while maintaining a bullish bias for today.
Key Quotes
“A dip below modest chart support at 1.5341, but a strong rally rebound from 1.5316 to leaves upside pressures from the bullish extension last week and mid-February within the broader, non-trend, range theme.”
“The firm February recovery effort above the key 1.5270 level and trend line from July 2014 completed a short-term base, for a broader consolidation phase, but still with a near term positive tone.”
“For Today: We see an upside bias through 1.5481/1.5500; break here aims for 1.5587 (and maybe 1.5621).”
Key Quotes
“A dip below modest chart support at 1.5341, but a strong rally rebound from 1.5316 to leaves upside pressures from the bullish extension last week and mid-February within the broader, non-trend, range theme.”
“The firm February recovery effort above the key 1.5270 level and trend line from July 2014 completed a short-term base, for a broader consolidation phase, but still with a near term positive tone.”
“For Today: We see an upside bias through 1.5481/1.5500; break here aims for 1.5587 (and maybe 1.5621).”