Daily Technical Strategist Mar 15-2013 - Written by Mohammed Isah
GBPUSD: Bullish On Corrective Recovery.
GBPUSD: A third day of upside on recovery is now underway. This suggests that we could see further upside towards the 1.5198 level where a violation will aim at the 1.5300 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to its present bullish offensive will be a reversal of that gain and a return to the 1.4830 level. Below here if seen will resume its broader medium term downtrend towards the 1.4800 level. A violation will aim at the 1.4700 level followed by the 1.4700 level. On the whole, GBP continues to retain its broader downside bias though recovering.
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