GBP/USD update

GBP/USD reached 1.9651, and then started to bounce on the H4 "Long breakout" level. I moved south reaching 1.9617, an then it found a support on the R1 resistance which is 1.9620 today. Now, there may be sideway movement as of today, but further moving north is not yet ruled out completely. As of the time speaking the GBP/USD is 1.9632 again. So, may be it is resuming its movement north (aka bullish movement)

GBP/USD 15 minutes chart

GBP/USD broke the 1.9639 which is the H4 Long breakout level suggesting that it may continue north as of today. If price today closes at its current levels or higher, this will give a bearish outlook for the next couple of days so far. 1.97-- is highly probable in the next week.

GBP/USD update

GBP/USD broke the 1.9600 level yesterday, and is more likely to reach at least 1.9656 or around that level which is the 50% fibonacci retracement from 1.9914-1.9400 Hi-Lo levels.
For today if you are already on a long position then wait until today's close because more likely that price will go up until the close time.

GBP/USD update

GBP/USD touched the 1.9600 level today. A breakout of this level tomorrow will most likely reach the 1.9657 which is the 50% fibonacci retracement from the 1.9912 - 1.9400 Hi-Lo.

GBP/USD 15 minute chart update

GBP/USD is finding a strong support at 1.9568 and is currently resuming its upward movement. If the 1.9568 remains intact, then this will support my bullish forecast for tomorrow. GBP/USD is at 1.9582 at the time of writing this post.

GBP/USD 15 minute chart

GBP/USD 15 minute chart starts to show mild retracement from the 1.9595 price. As of the time of writing the 1.9568 holds as a strong support, if it breaks, then the retracement will continu to follow untill the pivot level most likely at 1.9538.

The overall speculation is bullish for the GBP/USD, although the reason for the 100 pips spike today is still not known so far.

GBP/USD update

GBP/USD had broken the triangle formed 14 days ago. If the price closed above the current level of 1.9588 (as of the time writing this post), then I think continue its upward movement of at least 1.9670.