GBPUSD Week Beginning 27/04/2015

FX:GBPUSD   British Pound / U.S. Dollar
After a fake out of the range below 1.46330 to fill short orders, cable has been pushed higher and has now closed above KEY resistance at 1.50 printing a Bullish Marubzou on last Fridays close. This suggest strong upwards momentum on the pair.

On open, Cable faces resistance at the 1.52 handle, also being the 61.8% fib of the daily swing and a descending trendline . Looking left, we can see 1.52 as an area of resistance in January. A break, retest and close above this level should give £$ the steam to run to 1.5550 resistance.

We can also see a bullish MA cross and price has been able to cross through the Ichimoku cloud as further bullish confirmation.
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