GBPUSD Weekly TF

GBPUSD - Pair tested the downtrend line and we see a reaction there to end the pair still in green though at the end of the week. The 15ema is moving sideways although the pair is above the 15ema.

Next week, GBPUSD might test the upside again and the stochastic looks like it is supporting an up move at the moment. On the upside, the pair has the potential to test the 61.8% Fib level at 1.57552. It needs to clear the 50% Fib level first before it can proceed northwards.

On the downside, the 23.6% Fib level can provide some support around the 1.51666 level.

I am bullish on this pair up the 61.8% Fib level at 1.57374. As long as the 23.6 Fib level is not broken, that is my stand.

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~ Ardy