GBP/USD Weekly Technical Report 8-12/4/2013
ecPulse
2013-04-08 08:58AM UTC
Cable has managed to breach the initial resistance level of 1.5260-turned into support- to confirm the rebound from 1.5020 zones as seen on the provided daily chart. The current upside recovery may continue supported by stability above SMA 20 and SMA 50 mainly targeting 1.5500 levels but 1.5180 should hold to keep the positivity on technical indicators unchanged.
The trading range for this week is among key support at 1.5130 and key resistance at 1.5555.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remains intact.
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