Chart GBP/USD Update: Poised for fresh gains

FX:GBPUSD   British Pound / U.S. Dollar
Choppy trade around the 1.3675 Fibonacci retracement and the 1.3711 weekly high of 14 January is showing signs of improvement, as intraday studies turn higher.
Daily stochastics are also turning higher and the flat Tension Indicator is ticking up, highlighting scope for fresh FX:GBPUSD gains in the coming sessions. A later close above 1.3711 will turn sentiment outright Positive and extend broad March 2020 gains towards the 1.3775 multi-year retracement. Flat weekly charts could prompt fresh reactions around here. Meanwhile, support remains at 1.3600. A close beneath here, if seen, would add weight to sentiment and put focus back on 1.3500.

We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at