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Forex technical analysis- GBP/USD

GBP/USD- UPWARD MOMENTUM PICKING UP

The GBP/USD pair is challenging its downward trend line on a 4 hour time frame and this represents that the lost upward momentum could be picking up. The trend remains towards the upside as the price is trading within its upward channel and also above its 50 day and 100 day moving averages shown in yellow and red color.

In terms of RSI and the MACD indicators, they are confirming the downward momentum is fading and the bias could be towards the upside.

GBPUSD 24-06-2015



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