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Forex: GBP/USD trading positively at 1.4955/56

The GBP/USD has trended higher Wednesday, after the recent negative attention received via weak indicators in the United Kingdom. After trading in the 1.4841 region (March 12 low), the cross was seen rallying towards 1.4955/56 in these moments, securing an advance of +0.38% during European trading.

“The GBP/USD hourly indicators moved into the positive territory, however the 4h structure still sees a prevailing negative tone that, coupled with a double-Doji candle, may produce further consolidation, with the psychological 1.5000 barrier and 1.5046 (08 March high) capping any advances.” writes Slobodan Drvenica, an analyst at Windsor Brokers Ltd. 

Drvenica points to resistances at 1.4952, onto the 1.5000 psychological barrier, and finally 1.5050. Conversely, a retracement of todays gains will result in the GBP/USD meeting support at 1.4900, then 1.4865, and finally 1.4830.

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Forex: GBP/USD finds resistance ahead of 1.5000

The GBP/USD rose to 1.4982 high in its rebound process after going to as low as 1.4832 in yesterday trading. The pair is currently finding stability at 1.4950 zone, up by +0.35% on the day.
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