SamKent
Long

GBP/USD Long-Term Outlook

FX:GBPUSD   British Pound/U.S. Dollar
56 0 0
The cable has been fairly resilient in the last coupled of days in the face of the big dollar rally. The pair is process of retesting the 50% fib, on the back of bouncing from the 1.5800 supportive zone. With strong bullish divergence to back it, we'd be looking for the pair to break the descending trend-line and the 50 SMA for bullish confirmation. Fundamentally, the pound is the one who may benefit from rate hikes before the dollar does, which may support a bullish continuation in the pair.
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