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| Technical Report |
SUMMARY:
The secondary trend of GBP/USD is bearish, it is
sustaining below the falling trend line & expected to give
breakout at upside. Prices are taking support of 200 SMA & 30 DMA
, consolidating with a positive bias. 1.5770 is a important level
and breaching of it can show upside movement to the levels of 1.5820.
MACD line is sustaining above the zero line, which is also indicating
the positive sentiment in the market. RSI is also supporting the
same.
STRATEGY:-
For Today, GBP/USD is looking strong on chart. We can expect
positive side movement for this session. One can go for buy on dips
strategy for this pair for intra day to mid term positions.
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| Technical Chart |
