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GBP/USD breaches above 1.6125 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that GBP/USD finally managed to breach above the 1.6125 level on Monday and is trading close to the daily high of 1.6153.

Key quotes


"The hourly chart shows an increasing upward potential in the short term, as price holds above a bullish 20 SMA and indicator aim higher above their midlines."

"In the 4 hours chart technical indicators head higher in positive territory, while 20 SMA also accelerates north below current price, now offering short term support around 1.6060/."

"As long as mentioned 1.6125 attracts buyers, the upside is favored with 1.6185 as next target once the daily high gives up."

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