Pound hits 3-week highs
(London) - The pound has retaken its bull trend against the Dollar in the final US session of the week. After hitting intraday highs of 1.5172, pair receded as low as 1.5120 before jumping to levels around 1.52 and marking new session highs and indeed, the highest level since 26 February, at 1.5216.
Right now the pair currently trades just below 1.52, quoting 1.5195.
Valeria Bednarik, technical analyst at FXstreet.com, sees next resistance at 1.5240, and sees midterm indicators extremely bullish: "Bigger time frame indicators also remain strongly bullish, suggesting as long as above 1.5140 support zone, pair likely to break above weekly high and extend current rally."
Right now the pair currently trades just below 1.52, quoting 1.5195.
Valeria Bednarik, technical analyst at FXstreet.com, sees next resistance at 1.5240, and sees midterm indicators extremely bullish: "Bigger time frame indicators also remain strongly bullish, suggesting as long as above 1.5140 support zone, pair likely to break above weekly high and extend current rally."
GBP/USD (Mar 12 at 20:20 GMT)
1.5175/77 (0.77%)
H 1.52174 L 1.5022
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.5107 | 1.5145 | 1.5183 | 1.5192 | 1.5230 | 1.5268 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bearish | Neutral |
| Data updated on Mar 12 at 19:58 (15-minute timeframe) | |
