novvoll12

GBPUSD - Short-term neutral –The 1.5356/5320 support zone is key

FX:GBPUSD   British Pound/U.S. Dollar
24 0 0
GBPUSD             1.5387 – Short-term neutral – The 1.5356/5320 support zone is key

GBPUSD             pulled back off the 1.5475 high (10 September), turning the intraday bias to neutral as consolidation is taking hold. A swing low near the 1.5356/5320 support zone (38.2%/50% of the 1.5163/1.5475 upleg) remains favored ahead of the next upleg through 1.5475 to challenge the 1.5507 resistance (August 27, 21015 high, near 50% retracement of the 1.5818/1.5163 fall at 1.5489) ahead of 1.5566 (61.8% of the 1.5818/1.5163 fall). However, weakness below the 1.5338 area (September 10, 2015 low, near 1.5320) would caution bulls and shift the focus to 1.5268 (September 8, 2015).
Outlook:
Intraday: neutral
Daily: bullish
Weekly: neutral
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