GBP/USD Technical Analysis

(1,5570) The CABLE confirmed a negative closing missing however a weak one that would have confirmed a top. However, the weekly closing was negative forming even a negative week reversal; only a weekly closing next Friday below 1,5539 will confirm a s/t top. The indicators of the daily chart are still well positive as well as those of the weekly one suggesting further upside potential, especially while above the 200 days line at 1,5516. The indicators of the s/t charts are instead showing a mixed picture. The drop on Friday toward 1,5540 formed already bullish divergences suggesting a change of the tone; while below the 200 hours line at 1,5608, now resistance we expect a deeper correction for the CABLE suggesting even a return toward the 1,54 area!! We stay on the sideline

Read the full report: GBPUSD 08.26

 

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