GBPUSD Support Held

09 Jul


The GBPUSD consolidated around the 1.5475 support level and has finally decided to bounce higher.  As long as the pair is above this level we could see a scaled move higher towards the 1.56 level.  Mid term resistance may surface around 1.5550.  If  the cross breaks below 1.5475 a move down towards 1.54 could be in the cards.

Sup    1.5475                   1.54

Res    1.5550                   1.56

PLan:   Above 1.5475 targets 1.56.

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