GBP/USD is recovering from
the yearly lows posted yesterday, building stable upward move the 1.3100
handle. The Sterling received good boost by the upward revision of the UK GDP growth for Q1
against the greehback’s corrective slide, adding fuel to the bullish sentiment.
Currently the pair is 1.3165, up with 0.67% for the day.
Technically speaking the short-term outlook remains neutral to bullish. On the four hour time frame the price is developing above its bearish moving averages but crossing to above the 20-day SMA. RSI and stochastic are showing strong bullish momentum above their mid-lines.
The buying interest might push the pair even higher from the current levels. A breakthrough the 1.3200 hurdle will open door for testing the resistance zone around 1.3230. Looking to the downside the pair remains supported by 1.3120 and lower by the key level at 1.3100.
Technically speaking the short-term outlook remains neutral to bullish. On the four hour time frame the price is developing above its bearish moving averages but crossing to above the 20-day SMA. RSI and stochastic are showing strong bullish momentum above their mid-lines.
The buying interest might push the pair even higher from the current levels. A breakthrough the 1.3200 hurdle will open door for testing the resistance zone around 1.3230. Looking to the downside the pair remains supported by 1.3120 and lower by the key level at 1.3100.
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