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GBPUSD Remains Bullish, Extends Recovery

GBPUSD: With a fifth day of recovery now underway, expect further bullishness to occur. The only warning is that is at its big psychological level at 1.5000.  Resistance resides at the 1.5050 level with a break aiming at the 1.5100 level. A violation will aim at the 1.5150 level and possibly higher towards the 1.5200 level. Its daily RSI is bullish and pointing higher supporting this view. Support lies at the 1.4950 level where a break if seen will aim at the 1.4900 level. A break of here will turn attention to the 1.4850 level. Further down, support lies at the 1.4800 level. On the whole, GBPUSD remains bullish as it looks for price continuation.

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